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Metinvest repaid USD 150 mln ahead of schedule in pre-export financing

Ukraine / Business and Finance

In 2020, the company managed to improve the efficiency of consumption of raw materials and energy resources, increase the productivity of equipment, optimize logistics, improve the product mix and much more.

Metinvest repaid USD 150 mln ahead of schedule in pre-export financing

International vertically integrated group of metallurgical and mining companies Metinvest B.V. (Metinvest) disbursed US $ 150 million ahead of schedule in pre-export financing (PXF).

After this repayment, the PXF credit line has a balance of USD 78 million.

At the same time, Metinvest capitalized on its strong financial results and strong liquidity position amid favorable prices for steel and iron ore.

"This step reduces the dependence on debt capital and thereby gives more flexibility in managing the debt portfolio," the press service of the company noted.

Metinvest consists of mining and metallurgical enterprises located in Ukraine, Europe and the United States and has a sales network covering all key world markets. The company is headquartered in the Netherlands, The Hague.

The main shareholders of Metinvest are Rinat Akhmetov's SCM group (71.25%) and Vadim Novinsky's Smart Holding (23.75%), jointly managing the company.

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