An international consortium of banks including ABN AMRO, Deutsche Bank AG and ING Wholesale Banking and Magnitogorsk Iron and Steel Works (MMK) have signed a EUR365m loan agreement for a 10-year term.
The loan is covered by the insurance company Euler Hermes Kreditversicherungs-AG (Hamburg), representing the Federal Republic of Germany.
The Russian top steel producer intends to use the raised funds to finance equipment supplies and services from the German company SMS Demag AG.
sections: Economics |