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Credit Bank of Moscow approves USD 100.0 mln credit facility for IMH

18 July 2016

Industrial Metallurgical Holding (IMH), the world’s largest exporter of merchant pig iron and the leading producer of merchant coke in Russia announces a contract delivery with Credit Bank of Moscow (CBM) for a revolving credit line with a USD 100.0 mln limit for IMH.

Credit facility matures in 18 months. The credit line was approved for PAO Tulachermet and guaranteed by PAO Koks and OAO Kombinat KMAruda. Proceeds will be used for current assets financing.

“IMH is consistently working on debt portfolio structure optimization. The agreement with CBM is concluded within the framework of our financial strategy aimed at transition from short- to long-term borrowings. We intend to further increase our credit maturities, along with Group’s net debt reduction. The company intends to increase the share of credit facilities with maturities longer than three years up to 50% of overall debt portfolio”, - noted Sergey Cherkaev, IMH Vice President and CFO.
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