Metinvest Launches New Securitisation Deal

Metinvest B.V., the parent company of an international vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), today announces the successful launch of a new accounts receivable securitisation programme for its Italian re-rollers, Metinvest Trametal and Ferriera Valsider. The transaction will allow to finance a pool of accounts receivable up to EUR 50 million. The facility has a maximum tenor of five years and a one-year rolling commitment. It will support sales in the EU and improve the working capital position of Italian re-rollers of the Group.

The transaction has been structured by Banca Akros S.p.A (Gruppo Banco BPM) through an Italian Law 130/99 special purpose vehicle. It involves the issuance of partially paid variable funding senior notes, backed by a portfolio of trade receivables originated by Metinvest Trametal and Ferriera Valsider. Banco BPM S.p.A. through Banca Akros S.p.A. acts as senior investor in the transaction.

Yuriy Ryzhenkov, Chief Executive Officer, Metinvest:

“We appreciate this new chapter in business relationship with our long-time partners Banco BPM S.p.A. and Banca Akros S.p.A. This landmark deal is part of Metinvest’s strategy to diversify and strengthen the trade finance portfolio”.

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