Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has signed an agreement with a club of banks for a $240 million pre-export finance facility (the “PXF-2018”).
The new PXF has a 5-year tenor with a 4-year grace period; interest rate is linked to LIBOR.
The purpose of PXF-2018 is to refinance all existing USD-denominated debts of the company due in 2018-2019 and to improve maturity profile and costs of borrowings. Disbursement of funds will be effected after completion of certain typical conditions precedent.
The deal was supported by eight financial institutions from Europe and Russia. (MetalInfo/Ukrainian metal)