EVRAZ Repays Vnesheconombank Loan Using 5-year Credit Facility from Gazprombank
27 May 2010 – EVRAZ Group (LSE: EVR) ("EVRAZ" or the "Company") announces that it has fully repaid a US$1,007 million loan to Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank” (VEB). This transaction was announced at the time of the release of the 2009 Full Year financial results in March 2010 and is in line with the Company’s refinancing plan to term out the Group’s short-term debt.
The VEB loan was due to mature in five quarterly installments of US$201.3 million each, starting from May 2010. For the purpose of the VEB loan repayment, EVRAZ utilised a US$950 million loan from Gazprombank, which will mature in May 2015.
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