Sberbank of Russia opened rub 50 billion 3-year credit line for METALLOINVEST

METALLOINVEST, a leading global iron ore and HBI producer based in Russia, today announced that Sberbank of Russia has opened two credit lines for Mikhailovsky GOK (a part of METALLOINVEST) totaling RUB 50 billion with a maturity date in three years.

METALLOINVEST Deputy CEO and CFO, Pavel Mitrofanov, commented: “Sberbank’s credit line opening provides the Company with the opportunity to guarantee an additional source of liquidity in order to secure financial stability and sustainable development in volatile market conditions. The Company has sufficient funds from operating activities and cash on its balance sheet to meet its obligations in terms of interest expenses and debt repayment in a timely manner”.