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Metalloinvest Inks ECA Backed Financing Deal with ING Bank

Steel News - Published on Fri, 26 Jun 2020

Image Source: Metalloinvest ING Bank
Metalloinvest announced the signing of an agreement with ING Bank for ECA backed financing in the amount of EUR 11.7 million. The agreement with ING Bank is concluded under the existing framework agreement signed with twelve international banks in August 2019. The credit line will be used to finance previously incurred expenses under the contract with Danieli Centro Combustion SpA. for the equipment supply under the investment project for the construction of the heat treatment facility for hot-rolled steel at OEMK.

Insurance cover will be provided by Servizi Assicurativi del Commercio Estero, the Italian export credit agency.

The loan provided under the agreement with ING Bank will be repaid in equal semi-annual payments over the course of 10 years.

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Posted By : Yogender Pancholi on Fri, 26 Jun 2020
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