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BRIEF-Russia's Metalloinvest says agrees to borrow at least $1.05 bln
May 5, 2017 / 10:02 AM / in 7 months

BRIEF-Russia's Metalloinvest says agrees to borrow at least $1.05 bln

May 5 (Reuters) - Russian metals producer Metalloinvest says:

* Agrees with a syndicate of banks to borrow at least $1.05 billion

* Will raise funds from 17 lenders, including banks from Europe, U.S., China, Japan and Russia

* The loan, designed to finance the company’s pre-exports, is divided into two tranches: $800 million for five years with a three-year grace period, and $250 million for seven years with a five-year grace period

* The loan facility could be extended by up to $450 million

* Tranches have floating rate linked to one-month LIBOR (Reporting by Moscow newsroom)

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