Metinvest repays part of PXF facility
Metinvest, the international vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), has repaid US$150 million of its pre-export finance (PXF) facility ahead of schedule. Following this repayment, the remainder due under the PXF facility is US$78 million.
In doing this, the Group took advantage of its strong financial results and robust liquidity position amid favourable steel and iron ore prices. In addition, the move reduces dependence on borrowed capital and thereby gives greater flexibility regarding debt portfolio management.