Evraz repays VEB loan
May 27 2010 - 2:00AM
UK Regulatory
TIDMEVR
RNS Number : 6284M
Evraz Group S.A.
27 May 2010
EVRAZ REPAYS VNESHECONOMBANK LOAN USING 5-YEAR CREDIT FACILITY FROM GAZPROMBANK
27 May 2010- Evraz Group (LSE: EVR) ("Evraz" or the "Company") announces that it
has fully repaid a US$1,007 million loan to Russia's State Corporation Bank for
Development and Foreign Economic Affairs "Vnesheconombank" (VEB). This
transaction was announced at the time of the release of the 2009 Full Year
financial results in March 2010 and is in line with the Company's refinancing
plan to term out the Group's short-term debt.
The VEB loan was due to mature in five quarterly installments of US$201.3
million each, starting from May 2010. For the purpose of the VEB loan repayment,
Evraz utilised a US$950 million loan from Gazprombank, which will mature in May
2015.
###
For further information:
Media contact:
Alex Agoureev
VP, Public Relations
+7 985
122 4822
media@evraz.com
Investor contact:
Director, Investor Relations
Alexander Boreyko
Tel: +7 495 232 1370
IR@evraz.com
Evraz Group S.A. is a large vertically-integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, Europe, USA, Canada
and South Africa. The Company was ranked the 15th largest steel producer in the
world based on crude steel production of 17.7 million tonnes in 2008. In 2009,
Evraz produced 15.3 million tonnes of crude steel and sold 14.3 million tonnes
of steel products. Evraz's internal consumption of iron ore and coking coal is
fully covered by its mining operations. Evraz's consolidated revenues for the
year ended 31 December 2009 were US$9,772 million and consolidated adjusted
EBITDA amounted to US$1,237 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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