EvrazHolding obtains foreign loan

EvrazHolding obtains foreign loan

According to recent news in the market, Russian steel producer EvrazHolding declared that it has acquired a syndicated loan of $100 million which will be divided into two for its mills Nizhny Tagil Iron and Steel (NTMK) and West Siberian Iron and Steel (ZapSib). The officials from EvrazHolding stated that the loan will be used to finance working capital needs and investments of the group. The credit is secured by export sales of EvrazHolding. The loan is granted by Commerzbank Aktiengesellschaft of Germany, Moscow Narodny Bank Limited, located in UK and SG Corporate & Investment Banking of France. Moreover, this loan is stated to be the third foreign loan granted to EvrazHolding in two weeks.