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Evraz Repays Loan to VEB
12/17/2009 - Evraz Group has repaid a US$800 million loan to Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank” (VEB). The loan was provided to Evraz in December 2008 to refinance short-term debt to non-Russian banks.
Evraz Group has repaid a US$800 million loan to Russia's State Corporation Bank for Development and Foreign Economic Affairs "Vnesheconombank” (VEB).
The loan was provided to Evraz in December 2008 to refinance its short-term debt to a syndicate of non-Russian banks. It was secured with the pledge of assets and shares of Evraz Inc. NA Canada, a wholly owned subsidiary of Evraz Group.
VEB also provided Evraz with a loan for over US$1 billion in November 2008, the term of which has recently been extended by one year. It will be repaid in five quarterly installments of US$201.3 million each starting from November 2010.
