IUD Attracts USD 350 mln from the IFC

According to Interfax, the Industrial Union of Donbas attracted a USD 350 mln loan from the International Finance Corporation for its two plants, Alchevsk Iron & Steel (ALMK: BUY) and DMK Dzerzhinskogo Steel (DMKD: N/R). A USD 100 mln loan will be granted by the IFC itself while another USD 250 mln will come as a syndicated loan organized by the IFC. The funds are intended to modernize the plants’ facilities and implement environmental programs.