OREANDA-NEWS. March 9, 2011. Metinvest (“the Company”), the international vertically integrated mining and steel group of companies, is pleased to announce that it has secured a USD  175 million 3-year amortized stand-by loan from Sberbank of Russia. The loan will be used to support Metinvest’s ongoing asset modernization and for general corporate purposes.

This is the second loan secured by Metinvest in 2011, following an earlier loan of USD  75 million secured from Rabobank Group on February 17.

In 2010, the Company attracted a USD  700 million syndicated loan arranged by Deutsche Bank AG and provided by a syndicate of 14 banks. According to Thomson Reuters Loan Pricing Corp. (LPC), it was the largest loan secured by a private Ukrainian company over the last two years. Previously, a USD  1.5 billion syndicated loan obtained by Metinvest in July 2007 was recognised as the largest credit facility secured by a private Ukrainian entity.