Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, opened a new credit line with Gazprombank in the amount of RUB 5 bn, the company informed.
In line with its Debt Management Strategy, the Company has entered into a new loan agreement with the Bank. The new credit line matures at the end of 2026.
The company plans to use this credit line in order to partially refinance and improve the commercial terms of its loan portfolio.
Metalloinvest (tax number: 7705392230) is a leading producer and supplier of iron ore products and direct reduced iron in the global market, one of the regional producers of high-quality steel. The company possesses the world's largest iron ore deposits under development and has achieved one of the lowest cost of IORM production values. 100% of the company's shares are controlled by USM Holding Company LLC whose largest beneficiary is Alisher Usmanov (49%).
IFRS net profit of Metalloinvest for 2019 increased by 5.1% to $1.731 billion from $1.647 billion a year earlier. Revenue decreased by 3.2% to $6.96 billion from $7.187 billion. EBITDA dropped by 14.3% to $2.514 billion from $2.934 billion.
