October 12, 2008

Chelyabinsk tube rolling plant to borrow up to USD 500 million

Interfax reported that Shareholders in Chelyabinsk Tube-Rolling Plant approved a deal to borrow up to USD 500 million from ChTPZ Capital SA in distance voting at an extraordinary meeting on October 17th 2007.

The loan will be for seven years at an interest rate of no more than 10% annually. Repayment will be made once every six months.