GREY:HRIVF - Post by User
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Metalsforcashon Jun 15, 2009 9:56am
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Post# 16070514
Deep pockets....
Deep pockets....Sberbank grants OAO Severstal facilities
June 15th, 2009. OAO Severstal announces that Russian bank Sberbank has granted the Company a three-year US$ 300 million credit facility. The loan proceeds will be used for working capital purposes and re-financing of already existing indebtedness of the Company.
These credit facilities will allow the Company to further strengthen its liquidity and extend maturity profile. Sberbank facility is a reliable long-term source of capital which will be used to finance ongoing needs and replace some of our maturing obligations», said Sergei Kuznetsov, CFO of ??? Severstal.