Loans are still too expensive says Metalloinvest CFO

Pavel Mitrofanov Metlloinvest
By Michael Turner
10 Sep 2013

One of Russia’s largest metals and mining firms has called on loans bankers to cut the cost of loans even further as Eurobonds are still more attractive to borrowers.

Metalloinvest (BB-), which owns the second largest iron ore reserves in the world, believes there is still room for lenders to cut their prices — even after EuroChem signed its $1bn-plus unsecured syndicated loan last week at a contentious 185bp margin.

“The banks certainly have funds available to ...

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