The international vertically integrated pipe and wheel company Interpipe concluded an agreement with JSB Ukrgasbank to sign a general loan agreement for the amount of EUR 37 million.
According to a company’s press release, the general agreement provides for a EUR 30 million amortized loan for five years and a revolving credit line for EUR 7 million for three years.
Interpipe Chief Financial Officer Denys Morozov said that Interpipe has raised its first loan after completing the debt restructuring in October 2019.
“It has been obtained as part of the implementation of the Company’s strategic goals and allows reducing the interest burden for the Company. We are especially pleased that the financing for the Ukrainian industrial company has been secured at the Ukrainian state bank Ukrgasbank that is known as Ecobank and has been financing a wide range of environmental and green projects. We intend expanding our cooperation with the bank in other areas as well,” Morozov said in a press release.
As reported, Interpipe announced the decision to carry out the next partial redemption (buyout) of eurobonds 2024, this time in the amount of $74.82 million. The redemption is scheduled to be carried out by December 29 this year.
