TMK Group | 30 December 2015 г. | 16:45

TMK completed a deal with VTB

TMK on December 29, 2015, completed a deal with VTB Bank to raise around 10 billion rubles by selling its shares. Part of the shares will be delivered in the course of 2016.

TMK has a right to buy the shares back.

The funds will be used to reduce debt by repaying bank loans in 2016.

TMK’s management believes this transaction is beneficial to the Company, its creditors and investors. It will enable TMK to significantly reduce the debt by using its own shares.

Source: Metal Supply and Sale Magazine
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