OREANDA-NEWS. In October 2013 “Zaporizhstal” JSC has repaid the loan for Euro 17,2 million, which was provided to the Iron and Steel Works in June 2007. The loan was granted by COMMERZBANK AG, Germany, with coverage of “EULER HERMES” (German State Export Credit Agency).

The purpose of loan was the purchase of equipment for pulverised coal injection unit (PCI) manufactured by “Kьttner”, (Germany). PCI unit construction and putting into operation in the Blast Furnace Shop in October 2011 was a part of “Zaporizhstal” capacities modernization program. The total investments into PCI project since 2008 amounted to more than UAH 1 billion including the completion of bulk coal storage construction in November 2012.

This loan was repaid by “Zaporizhstal” JSC strictly according to the repayment schedule and terms of the contract.

It is a reminder that in June 2013 “Zaporizhstal” JSC has repaid the syndicated loan in amount of USD 195 million, which was submitted to the Iron and Steel Works in September 2008 by syndicate of 9 banks: ABN AMRO BANK N.V, The Netherlands, ALPHA BANK A.E., Greece, Credit Agricole Corporate and Investment Bank, France, COMMERZBANK AG, Germany, ING BANK N.V., The Netherlands, KBC BANK N.V, Belgium, LANDESBANK BADEN-WURTTEMBERG, Germany, RAIFFEISEN ZENTRALBANK OSTERREICH AKTIENGESELLSHAFT, Austria, CITIBANK N.A., USA. CITIBANK N.A., Great Britain acted as the syndicate Agent.