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Metinvest initially took the loan for debt refinancing to fund its capital expenditure programme as well as to provide working capital for general corporate purposes, the group said.
The refinancing facility had an annual, 1.7% interest margin over the London Interbank Offered Rate (Libor) – the inter-bank lending rate.
Metinvest received the facility in two tranches. The first was a $1 billion loan facility, while the second was a $500 million revolving loan facility, the group added.
Deutsche Bank. ING Bank, ABN Amro and BNP Paribas acted as the syndicate’s lead managers and bookrunners, Metinvest said.