Russia's largest ferromolybdenum producer SMR Group has announced that it has signed a loan agreement with its creditors BNP Paribas, ING Bank, Raiffeisen, Royal Bank of Scotland and Alfa-Bank to refinance its existing debt in full.
Accordingly, the total amount of the loan is $122 million, with a four-year tenor and a 15-month grace period.
"The successful completion of the refinancing process will allow the company to concentrate on further increasing the efficiency of our assets to ensure future development and increase of our share in the world ferromolybdenum market," SMR Group chairman Anton Chertkov said.