Metinvest's daughter repaid a loan worth 410 million euros

According to the press center of the Metinvest group, its subsidiary Metinvest Trametal S.P.A. It has been a credit line in the amount of 407 million euros since 2008, today it has repaid a loan debt in the amount of 107.5 million euros.

The credit line was used by Metinvest for the purchase of a 100% share in Trametal S.P.A. (later renamed “Metinvest Trametal S.P.A.”) and its subsidiary Spartan UK limited (jointly referred to as “Metinvest Trametal”), two leaf-rolling enterprises located, respectively, in San Jorgio Di Nogaro (Italy) and in NEUKASLE (UK). Credit was organized by a syndicate of 10 banks, in which the banks ABN amro Bank N.V. and BNP Paribas S.A. acted as the main organizers and underwriters.

The decision to repay the debt on the credit line was made by the Metinvest group as part of the optimization of the structure of corporate debt, the ultimate goal of which is the transfer of external financing to the level of the maternal company of the Metinvest B. V. group.

107.5 million euros of debt was repaid at the expense of the funds earned by Metinvest Trametal S.P.A. Sergey Novikov, the financial director of Metinvest, commented on: “The repayment of this credit line reduces the volume of our short -term financial obligations and general debts, and also reduces the share of priority secured debt, which should improve the credit rating of metinvest debt instruments. Removing obligations on carpets from Metinvest Trametal releases the cash flows of two profitable metallurgical enterprises, and these funds will be used to implement capital cost projects in accordance with our technological strategy. ”