Dzerzhynskogo Steel Receives A Loan From ABN AMRO Bank.
10 February 2008
ABN AMRO opened a USD 75 mln credit line for the company. The term of the loan is 1.5 years, and the interest rate is LIBOR+3.65% p.a. Concorde Capital: Although the company did not disclose how it will use the loan, we believe that the funds will likely be used to upgrade Dzerzhynskogo’s outdated capacities. This will improve the efficiency of the company’s operations and enable it to increase production of steel semis. The company’s holding corporation, Industrial Union of Donbas (IUD), plans to roll the semis from Dzerzhynskogo into value added products at the Giammoro plant in Italy
