Metalloinvest has signed an agreement with MUFG for ECA-backed financing in the amount of EUR 9.9 million.
The loan will be used for the technical re-equipping of CCM-3 at OEMK, with the equipment supplied by Inteco melting and casting technologies GmbH. Insurance cover will be provided by Oesterreichische Kontrollbank AG, the Austrian export credit agency. The loan provided under the agreement with MUFG will be repaid in equal semi-annual payments over the course of 10 years.
Alexey Voronov, Finance Director of Management Company Metalloinvest, commented: “We regularly use ECA-backed financing for the purchase of foreign equipment under the guarantees of export agencies. Today, we have signed an agreement with MUFG, which has become our first ECA-backed financing deal under the new framework agreement signed with twelve international banks in August. This structure allows us to optimize the documentation process and improve the transaction parameters.” (Metalinfo/Ukrainian metal)