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Ilyich Iron and Steel Works

Metinvest secures us$ 850 million loan

10 August 2011 // Press centre Metinvest Group

Metinvest B.V. (“the Company”), a parent company of the international vertically integrated steel and mining group of companies, is pleased to announce that it has secured a US$850 million 5-year amortizing loan coordinated by Deutsche Bank AG. The deal was signed with 5 Mandated Lead Arrangers and Bookrunners: Deutsche Bank AG, ING Bank N.V., Natixis, UniCredit Bank AG, WestLB AG and one Mandated Lead Arranger: BNP Paribas. The Bookrunners are preparing to launch syndication to a wider bank group in September.

The loan, with a grace period of 24 months from the signing date, will be used to refinance Metinvest’s existing high interest bearing loans, primarily the US$700 million 3-year loan secured in 2010, reducing the interest charge from Libor + 5.5 per cent to the lower rate of Libor + 3.0 per cent per annum. 

This is the fourth loan secured by Metinvest in 2011, following earlier loan facilities arranged in February 2011: US$100 million from UniCredit, US$75 million from Rabobank Group and US$175 million standby credit line from Sberbank of Russia.

Editorial notice and contact details:

Metinvest is an international 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 three operating divisions: Coke and Coal Division, Iron ore Division, Steel and Rolled Products Division 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 major shareholders of the Company METINVEST B.V (a holding company of Metinvest Group) are SCM Group (71.25% ownership) and Smart-Holding (23.75% ownership) partnering in Company’s management.

METINVEST HOLDING, LLC is the managing company of Metinvest Group.

For further information

Investor contact:

Sergiy Dynchev
Head of Corporate Finance
+38 062 388 16 85