Sberbank extends 50 bln rubles in credit for Metalloinvest

摘要

Sberbank of Russia has opened for Mikhailovsky Mining & Processing (MGOK) two three-year credit lines - one of 20 billion and the other of 30 billion rubles, said Alisher Usmanov's iron ore and steel holding OJSC Metalloinvest, of which the mining company is part.The interest rate was not revealed."The opening of the credit line by Sberbank provides the opportunity to guarantee an additional source of liquidity with the goal of financial stability and steady company development in conditions of market fluctuation," Metalloinvest General Director Pavel Mitrofanov is quoted in the company's statement as saying.