OREANDA-NEWS. Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), announces that it has completed the final drawdown under a €25 million 10-year buyer credit facility (the “Facility”) covered by Euler Hermes Deutschland AG, the German export credit insurance agency (the “ECA”). Deutsche Bank acted as the sole arranger and sole lender of the Euler Hermes-covered loan.

The facility bears an interest margin of 1.95% per annum. The funds will be used to finance the construction of a pulverised coal injection (“PCI”) unit by Küttner GmbH & Co. KG, a German industrial manufacturer, at one of Metinvest’s steelmaking facilities.

Aleksey Kutepov, Chief Financial Officer of Metinvest, commented: “We fully appreciate the lender’s confidence in Metinvest as a strong market player in parallel with the Group restructuring discussions.”