The group “Metinvest” is in the final stages of negotiations with the black sea Bank of trade and development over the seven-year credit lines totaling € 62 million, approved by the Board of Directors of the Bank, the press service of the group.
The proceeds will be used to Metinvest for implementation of the investment program and working capital. The final terms of financing will be agreed in the framework of the signing of the loan documentation.
Black sea Bank of trade and development is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. It supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors of the participating countries. Bank’s share capital is EUR 3.45 billion, and its long-term credit ratings are on the level of A – from S&P and A2 from Moody’s.
“We look forward to the cooperation with the black sea Bank of trade and development, as it will mark an important stage in the history of “Metinvest” for the first time we will cooperate with international financial organization. In addition, such collaboration illustrates the support and trust of the black sea region as a group, and Ukraine. Partly it became possible due to the high environmental, social and governance standards of the group, and we want them to constantly improve,” – said General Director of “Metinvest” Yuri Ryzhenkov.