SMR Group signed new refinancing agreement
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 01.03.2010 |
Moscow, 1st of March, 2010 - SMR Group, Russia's largest ferromolybdenum producer, signed the agreement with its creditors BNP Paribas, ING, Raiffeisen, Royal Bank of Scotland and Alfa-Bank. The loan will refinance existing SMR Group debt in full.
Total amount of the loan is USD 122 mln, with a 4-year tenor and a 15-month grace period.
"The successful completion of the refinancing process will allow the company to concentrate on further increasing the efficiency of our assets to ensure future development and increase of our share on the world ferromolybdenum market", says Anton Chertkov, Chairman Board of Directors SMR.
Note to editors:
SMR is the Russian biggest Molybdenum producer and one of the leading suppliers of Ferromolybdenum in the world market (5% in 2008). SMR incorporates a group of companies engaged in minerals exploration, extraction, concentration, processing and production of Ferromolybdenum. SMR is controlled by En+ Group, Russian based diversified company uniting businesses which extract raw materials for energy production, generate electricity and produce non-ferrous metals.
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