VTB Bank has released a US$ 99 million loan to EVRAZ ZSMK, part of the EVRAZ Group. The loan has a term of six and a half years. The funds will be used for refinancing existing debt.
"Thanks to VTB Group’s presence in a range of financial and banking sectors, we can provide the holding company with a comprehensive suite of services and products that will help it find effective solutions," said Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board.
One of the world’s leading steel manufacturers, EVRAZ is a vertically integrated steel and mining company with assets in Russia, Ukraine, the United States, Canada, the Czech Republic, Italy, Kazakhstan and South Africa. In 2015, EVRAZ produced 14.3 million tonnes of steel. The company relies almost completely on its own resources of iron ore and coking coal and has about 90,000 staff around the world. The company is listed in the FTSE 250 share index. In 2015, EVRAZ posted consolidated revenue of US$8.767 billion and consolidated EBITDA of
US$ 1.438 billion.