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Metinvest paid off part of its pre-export financing obligations ahead of schedule

Ukraine / Business and Finance

Rising steel and iron ore prices have allowed the company of Rinat Akhmetov and Vadim Novinsky to repay the $ 45 million PXF loan ahead of schedule.

Metinvest paid off part of its pre-export financing obligations ahead of schedule

Dutch mining and metallurgical holding with assets in Ukraine Metinvest B.V. (Metinvest) ahead of schedule USD 45 million in pre-export financing (PXF). Thereafter, the remaining amount is $ 228 million.

As explained in the press service of Metinvest, the early payment became possible due to the high liquidity of the group against the background of favorable conditions on the steel and iron ore market.

"The intention is to release Metinvest from scheduled payments on the credit line for the next few months, which will provide additional flexibility in servicing the debt portfolio and underline the group's caution in managing its obligations," Metinvest noted.

The main shareholders of Metinvest are Rinat Akhmetov's SCM group (71.24%) and Vadim Novinsky's Smart Holding (23.76%), jointly managing the company. Metinvest Holding LLC is the management company of Metinvest Group.

МЕТАЛЛУРГПРОМ
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