The Ukrainian Metal

Ukraine: Zaporizhstal to borrow $18 million

Zaporizhstal held an extraordinary meeting of shareholders.

The only issue discussed was the borrowing of $18 million from the state-owned Ukrgazbank.

The shareholders voted to authorize the CEO of the company Rostislav Shurma to sign a loan agreement with the bank for 5 years with the interest rate of 7%.

Zaporizhstal will pledge its assets valued at 1.1 billion UAH ($39 million).

Ukrgazbank has previously provided a loan of $1 million to Zaporizhstal for the construction of the cleaning facilities. (Ukrainian metal)

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