Metinvest, an international vertically integrated group of mining and metallurgical companies, reached an agreement with the state-owned Ukreximbank on restructuring and transferring the debt of Donetskstal in the amount of more than UAH 1,500,000,000 to the Pokrovskoye Mine Administration, previously acting as a guarantor for the obligations of Donetskstal.
Pokrovskoye Mine Administration has been part of the Metinvest Group since March 2021 and is the largest Ukrainian producer of high-quality coking coal used as fuel in metallurgical production.
General Director of Metinvest Group Yuriy Ryzhenkov
– We believe that the restructuring of the debt of the Pokrovskoye Mine Administration to Ukreximbank is a landmark event for both the Ukrainian banking market and for the country as a whole. We have reached an agreement with the bank, the terms of which allow us to start servicing the loan inherited during the recent acquisition of the Pokrovskoye Mine Administration. At the same time, a long-term debt repayment schedule has been agreed, which will allow us to effectively develop the Pokrovskoye Mine Administration.
Member of the Management Board of Ukreximbank, curator of corporate business Alexander Ignatenko:
– The Bank restructured its debt with a total amount of over UAH 1,500,000,000, which resulted in the complete restoration of debt servicing in front of the bank on market conditions. In turn, this gives the investor the opportunity to complete the complex integration of assets with a single production cycle.
Metinvest Group turns 15 this year. The Group employs over 80,000 people. Throughout its history, Metinvest has remained one of the largest taxpayers in Ukraine: over 15 years, the company has paid about UAH 165 billion in taxes to the budgets of all levels. Metinvest is a strategic investor in the Ukrainian economy, which has allocated about $ 10 billion over 15 years to modernize enterprises. During this time, the city-forming enterprises of Metinvest invested about UAH 2,500,000,000 in the development of Mariupol, Krivoy Rog, Avdiivka and Zaporozhye.