OREANDA-NEWS. March 10, 2011. Metinvest (“the Company”), the international vertically integrated mining and steel group of companies, announced that its subsidiary, JSC Khartsyzsk Pipe Plant, a producer of large diameter pipes for oil and gas industry, has fully repaid a USD  39.5 million credit facility provided by VTB Bank (Ukraine) in June 2010. The loan, originally due for repayment on May 31, 2013, was used to support the Company’s working capital requirements.

Sergiy Novikov, Chief Financial Officer of Metinvest, commented: “We are pleased to be able to meet our obligations to VTB more than two years ahead of the due date. The repayment of the loan ahead of schedule is fully in line with our strategy of decreasing the senior secured share of the Company’s total debt and further strengthening our balance sheet”.