OREANDA-NEWS. Metalloinvest (“the Company”), a leading global iron ore and HBI producer, today announces a new agreement with Sberbank.

Metalloinvest and Sberbank signed the agreement on refinancing existing credit facilities, which were earlier provided by the bank to the Company. The new facilities significantly improve the Company's debt maturity schedule.

According to the agreement, Metalloinvest might refinance RUB55 bn of its bank loans. The new 5- and 7-year credit facilities shall replace current facilities from Sberbank due for payment in 2014-2015 and thus will not lead to increase of Company's debt.