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Metinvest secures new financing facility in equipment leasing deal

2 June 2017

Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest” or “the Group”), is pleased to announce that following the successful debt restructuring completed in March 2017, one of its subsidiaries has secured a new financing facility as part of an equipment leasing agreement.

Ingulets GOK, one of the Group’s key iron ore producers, has agreed to lease eight Caterpillar 785C off-highway trucks from Zeppelin Ukraine TOV. The equipment has an overall value of around US$17 mn and Caterpillar Financial Ukraine, the local lending arm of the US construction and mining equipment manufacturer, is to provide financing for this transaction for five years. Delivery of the trucks is due to begin in September 2017.

Commenting on the news, Yuriy Ryzhenkov, Chief Executive Officer of Metinvest, said: “The Group is proud of this development, which is part of its strategy to return to the international debt and capital markets following the successful conclusion of the debt restructuring earlier this year.

 

For editors:

Andriy Bondarenko
Head of Investor Relations
Tel: +41 22 591 03 74 (Switzerland)
Tel: +380 62 388 16 24 (Ukraine)
andriy.bondarenko@metinvestholding.com

Yana Kalmykova
Manager of Investor Relations
Tel: +380 62 389 71 36 (Ukraine)
yana.kalmykova@metinvestholding.com

 

METINVEST GROUP is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the US, as well as a sales network covering all key global markets. The Group has two operating segments, Metallurgical and Mining. Its strategic vision is to become a leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns above the industry benchmarks. For the 12 months ended 31 December 2016, the Group reported revenues of US$6.2 bn and an EBITDA margin of 19%.

METINVEST HOLDING LLC is the management company of Metinvest Group.