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MMK

September 11, 2013

MMK secures USD 500 mln Facility

Magnitogorsk Iron and Steel Works (“MMK”), one of leading global steel producers, has successfully obtained a US$ 500 mln unsecured term loan facility (“Facility”) from a club of 5 banks.

ING Bank N.V., Nordea Bank , ZAO Raiffeisenbank and RBI AG (together RBI Group), Sberbank CIB and UniCredit acted jointly with UniCredit also undertaking the role of Sole Coordinator and Facility Agent.

The Facility is structured as a 4-year unsecured term loan facility, including 18-month grace period. Proceeds will be used for the refinancing of short-term elements of MMK’s credit portfolio and other general corporate purposes.

 

 

 

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