Sberbank grants Severstal facilities

Severstal announces that Russian bank Sberbank has granted the Company a three-year $ 300 mln credit facility. The loan proceeds will be used for working capital purposes and re-financing of already existing indebtedness of the Company.  

«These credit facilities will allow the Company to further strengthen its liquidity and extend maturity profile. Sberbank facility is a reliable long-term source of capital which will be used to finance ongoing needs and replace some of our maturing obligations», said Sergei Kuznetsov, CFO of ОАО Severstal.