Ukraine’s Industrial Union of Donbas has signed an agreement with ABN Amro opening a credit line of US$50mn. The funds will be directed at financing export deliveries of metal goods from the Alchevsk Metal Works (the Luhansk oblast) and the Dniprovsky Metal Works after Dzerzhynsky (the Dnipropetrovsk oblast), which belong to IUD.
In January IUD attracted a syndicated credit of US$85mn, arranged by Soci&eaute;té Générale and Natexis Banques Populaires, for financing export deliveries of products of the Alchevsk and the Dniprovsky metalworks.
The group specialises in production of cast iron, steel, rolled metal and consumer goods.
Then, in November last year, the group closed a landmark US$350mn deal with Soci&eaute;té Générale and ABN, which proved to be Ukraine’s biggest and longest pre-export finance facility yet (see ‘Best Deals of 2005’, Mar/Apr GTR, p54).