The new loans have been acquired on more favorable terms, which helped the Company cut its interest expenses and optimize the repayment schedule for the main debt. The guarantee of the RF Ministry of Finance granted in 2012 as a collateral for the syndicated loans, will be returned ahead of schedule.
PAO ChelPipe would like to thank its strategic financial partners - VTB Bank, Gazprombank, Sberbank and RF Ministry of Finance for the support and efficient cooperation.
'The refinancing of the syndicated loans is a key element of our program aimed at ChelPipe Group's higher operating performance. Its effective implementation has improved the Company's competitiveness on capital markets', commented Valery Borisov, ChelPipe CFO.
OAO ChTPZ published this content on 20 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 January 2017 06:13:00 UTC.
Original documenthttp://www.chelpipe.ru/en/press_center/company_news/6257/
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