The Facility had an interest margin of 1.7% per annum over LIBOR and comprised two tranches: a US$1.0 billion loan facility (Facility A) and a US$0.5 billion blank revolving loan facility (Facility B), which were primarily used to refinance Metinvest’s debt, fund its CAPEX programme and working capital needs, as well as for general corporate purposes.
Sergiy Novikov, Chief Financial Officer of Metinvest, commented: “The US$1.5 billion syndicated finance facility was the record borrowed amount in the credit history of Metinvest, and the largest loan attracted by a private company in Ukraine in 2007. We managed to raise the Facility on favourable terms, which was acknowledgement of investors’ strong confidence in Metinvest’s business case and financial position. The annual instalments including interest expenses were accurately paid by Metinvest throughout the credit crisis of 2008-2009 and up to now. By repaying the Facility in full and on time, Metinvest reaffirmed its reputation as a sustainable business and a highly reliable borrower.”
Deutsche Bank AG (Amsterdam), ING Bank N.V., ABN Amro Bank N.V. and BNP Paribas (Suisse) SA acted as Lead Managers and Bookrunners of the syndicate.
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METINVEST GROUP is a vertically integrated steel and mining group of companies, managing every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group comprises steel and mining production facilities located in Ukraine, Europe and the USA and has a sales network covering all key global markets. Metinvest Group is structured into two operating divisions: Steel and Mining Divisions and has a strategic vision to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. The Group generated US$3.2 billion of revenues and a 16.7% EBITDA margin for the first quarter 2012.
The major shareholders of the Company are METINVEST B.V. (a holding company of Metinvest Group) are SCM Group (71.25%) and Smart-Holding (23.75%), partnering in Company’s management.
METINVEST HOLDING, LLC is the managing company of Metinvest Group.
For further information, please, visit www.metinvestholding.com
Investor contact:
Andriy Bondarenko
Investor Relations Manager
+38 062 388 16 24
ir@metinvestholding.com