Khartsyzsk Pipe Plant Fully Repaid USD 39.5 mln Loan from VTB Bank
OREANDA-NEWS. March 10, 2011. Metinvest (“the Company”), the international vertically integrated mining and steel group of companies, announced that its subsidiary, JSC Khartsyzsk Pipe Plant, a producer of large diameter pipes for oil and gas industry, has fully repaid a USD 39.5 million credit facility provided by VTB Bank (
Sergiy Novikov, Chief Financial Officer of Metinvest, commented: “We are pleased to be able to meet our obligations to VTB more than two years ahead of the due date. The repayment of the loan ahead of schedule is fully in line with our strategy of decreasing the senior secured share of the Company’s total debt and further strengthening our balance sheet”.
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