The Russian miner and steelmaker Evraz Group (Evraz) has announced that it has signed three credit facility agreements totaling $950 million with Russia's largest non-state-owned bank Gazprombank for a period of 45 months.
Accordingly, the agreements in question are for credit lines of $500 million, $300 million and $150 million to be made available to Evraz's wholly-owned Russian subsidiaries West-Siberian Steel Works (ZapSib), Nizhny Tagil Iron and Steel Works (NTMK) and Novokuznetsk Iron and Steel Plant (NKMK) respectively.
The amounts available under these agreements can be drawn down within the next nine months.