metalloinvest (the"Company"), a leading manufacturer and supplier of iron ore products and HBI in the world market, one of the regional producers of high quality steel, announces the opening of a credit line to International Bank for economic cooperation (IBEC).

a New line of credit with a commitment in the amount of 40 million euros includes the term to maturity of 7 years, grace period 5 years. The agreement provides for the possibility of selection of funds within 3 years. The interest rate is fixed for the term of the loan. Funds may be used to Finance costs associated with the import of production equipment.

Alexei Voronov, the Director of Finance of the Company, commented: "We are delighted to start cooperation with IBEC. This is the first transaction of the Company with a supranational financial institution, providing access to new containers of financing and creating additional backup source of liquidity. A distinctive feature of this line is a combination of long term, extended period of use and attractive commercial terms".

Peter Osvald, member of the Board of IBEC, commented: "For a Bank transaction is attractive not only for commercial reasons. We have got customers in a stable international company, with large-scale plans and long-term prospects. For IBEC, passing the upgrade process, it is important to attract customers such a high level."

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