Metinvest attracts USD 100 mln loan facility

Metinvest, Ukraine’s largest metallurgical group, announced yesterday in a press release that it attracted a USD 100 mln three-year pre-export credit facility, arranged by UniCredit. Metinvest plans to use the loan proceeds to finance working capital and investment projects. In February 2011, Metinvest placed USD 750 mln in seven-year Eurobonds with a coupon of 8.75%. The holding also has an outstanding USD 500 mln five-year Eurobond (coupon of 10.25%) issued in May 2010. Metinvest, part of System Capital Management, is a vertically integrated metals & mining company with 24 assets in Ukraine, Europe and the U.S.