Metinvest agrees standby loan

Published: March 10, 2011

Sberbank gives steel group US$175mn line.

Ukrainian steel group Metinvest has secured a US$175mn loan from Sberbank.

The company will use the three-year stand-by loan for asset modernisation and general corporate purposes.

The loan is the second Metinvest has secured this year, following a US$75mn line from Rabobank in February. Last year, it raised a US$700mn syndicated loan from 14 banks, arranged by Deutsche Bank. It has also raised US$1.25bn from bond issuances in the past year.