RusAG approves RUB 4.0 bln credit facility for IMH
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 Russian Agricultural Bank for RUB 4.0 bln credit facility.
Russian Agricultural Bank (RusAG) opened a revolving credit line with a RUB 4.0 bln limit for IMH. Credit facility matures on March 13, 2018. The credit line was approved for PAO Tulachermet and guaranteed by OAO Koks, OAO Kombinat KMAruda, OAO Polema and OOO Uchastok Koksoviy. Proceeds will be used for current assets financing.
“IMH flexibly utilizes all available market instruments for liquidity management and capital financing. Credit line commitment confirms bank’s high level of confidence in the company. This loan agreement goes completely in accordance with the updated IMH development strategy aimed primarily at improving the operational and financial performance of the company”, - noted Sergey Cherkaev, IMH Vice President and CFO.