EVRAZ sells 34% stake in EVRAZ Highveld Steel and Vanadium
EVRAZ plc (LSE: EVR) (“EVRAZ” or the “Company”) has signed an agreement to sell 34% of the issued share capital of EVRAZ Highveld Steel and Vanadium Ltd (“EHSV” or “Highveld”) held by EVRAZ to Macrovest 147 Proprietary Limited (“Macrovest”) for ZAR 289 million (equivalent of USD 27 million as of 12 August 2014). It has been agreed that Macrovest will also refinance 50% of the outstanding working capital facility provided by EVRAZ plc.
EVRAZ signs US$425 million syndicated pre-export credit facility
EVRAZ plc (LSE: EVR) (“EVRAZ”) announces the signing by EVRAZ Consolidated West Siberian Metallurgical Plant and EVRAZ Nizhny Tagil Metallurgical Plant (the “Borrowers”) of a US$425 million 5-year Pre-Export Credit Facility (“Facility”) with a syndicate of international banks.
EVRAZ launches mass production of new rail types
EVRAZ ZMSK received Compliance Certificates for two new rail types: head-hardened DT350 rails for use in high-speed mixed-traffic railway operations and DT370 rails with higher wear resistance and contact fatigue life, from the Register of Certification on the Federal Railway. The samples of these rail types passed all the required tests both in EVRAZ labs and at the All-Russia Railways’ Research and Development Institute. The tests confirmed all claimed specifications of the new rail products.