AO ROSEKSIMBANK, a member of the REC Group, provided pre-export financing in the format of a revolving credit line in the amount of up to RUB 10 billion. OJSC Sredneuralsky Copper Smelting Plant (OJSC SUMZ), which is part of the UMMC Group of Companies.
REC support is aimed at financing the borrower's costs in the framework of export activities. Export deliveries occupy a significant share in the revenue of UMMC Group companies, allowing full use of the capabilities of ROSEXIMBANK JSC and EXIAR JSC.
“Companies of the Russian Export Center Group continue to expand cooperation with the metallurgical industry, an integral part of which is and OJSC “SUMZ”, which is a part of the UMMC Group. Export financing is always, and especially today, fraught with increased risks. At the same time, we understand that pre-export financing enables companies to reallocate and use their own resources more efficiently, directing them, for example, to modernizing production, researching and developing new products. Thus, the organization of pre-export financing is not just a loan product, but rather a strategic interaction between the credit institution and the borrower. Cooperation with the UMMC Group as a high-quality borrower fully complies with our strategy of development and increasing interaction with the largest representatives of the industry ", - said Nikita Gusakov, Senior Vice President of REC.
" The conclusion of this transaction is significant not only for our company, but also for the Russian market as a whole, as it demonstrates real steps to support exporting companies provided by the REC Group, which is especially significant in the period of current uncertainty in the global economy.
I would also like to note the professionalism of the Russian export center and JSC ROSEKSIMBANK as organizers.
For us, this is the second project with REC Group in recent years, and in both projects for JSC SUMZ and JSC Uralelectromed, the partners have shown themselves to be professionals in their field ", - commented the General Director of OJSC UMMC on behalf of the management company OJSC SUMZ Andrey Kozitsyn.
For information:
OJSC SUMZ is the largest enterprise in the Urals an enterprise for smelting copper from primary raw materials, part of the UMMC Group.
Ural Mining and Metallurgical Company is a Russian mining and metallurgical holding, the largest producer of copper, zinc, coal and precious metals in the country, uniting more than 40 industrial enterprises in Russia and abroad.
