Metinvest Secures 11.5-year, EUR23.6 Million ECA-covered Loan
Metinvest B.V., the parent company of an international vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or the “Group”), announces that it has secured an 11.5-year buyer credit facility of EUR23.6 million for its subsidiary, Northern Iron Ore. The facility is covered by Finnvera, Finland’s export credit agency (ECA). Deutsche Bank is acting as the sole arranger and lender and was advised by global law firm Norton Rose Fulbright. The loan will finance the purchase of equipment from Metso Finland, a Finnish industrial manufacturer, for a project to thicken enrichment waste at Northern Iron Ore.Yuriy RYZHENKOV, CEO of Metinvest, commented: “This transaction represents a significant milestone for the Group. It reflects our commitment to long term investment in our Ukrainian operations, particularly Northern Iron Ore. Despite ongoing security challenges, we are dedicated to preserving and potentially enhancing operational capacity, supporting wo