Evraz Repays US$800 Million Vnesheconombank Loan
14 December, 2009 – Evraz Group (LSE: EVR) ("Evraz" or the "Company") announces that it has repaid a US$800 million loan to Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank” (VEB).
The loan was provided to Evraz in December 2008 to refinance the Company's short-term debt to a syndicate of non-Russian banks. It was secured with the pledge of assets and shares of Evraz Inc. NA Canada, a wholly-owned Canadian subsidiary of Evraz Group.
As announced in November 2008, VEB also provided Evraz with a US$1,006.6 million loan, the term of which has recently been extended by one year. It will be repaid in five quarterly installments of US$201.3 million each starting from November 2010.
For further information:
VP, Public Relations
+7 985 122 4822
Director, Investor Relations
Tel: +7 495 232 1370