Metinvest repays €410 million of seven-year acquisition facility

Ukraine-based vertically-integrated mining and steel group Metinvest has announced that its subsidiary Metinvest Trametal had repaid ahead of schedule the remaining €107.5 million of a seven-year €410 million senior facilities agreement secured in January 2008. The facility was used by Metinvest for the purchase of a 100 percent equity interest in Trametal S.p.A. (later renamed Metinvest Trametal S.p.A.) and its subsidiary Spartan UK Limited (jointly referred to as Metinvest Trametal) - two plate rolling facilities located in San Giorgio di Nogaro (Italy) and in Newcastle (UK), respectively. The facility was arranged by a syndicate of 10 banks, with ABN Amro Bank N.V. and BNP Paribas S.A. acting as mandated lead arrangers and underwriters.

 

Metinvest’s decision to fully repay the facility pledged against fixed assets and shares of Metinvest Trametal is in line with the on-going optimization of the group’s corporate debt structure. The facility was repaid from the cash accumulated by Metinvest Trametal.