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Russia’s MDM Financial Group has signed a six year €5mn loan to finance equipment imports for steel producer Nizhny Tagil Metals Works (NTMK). MDM will borrow the funds from the Brussels branch of SG and then on-lend them to NTMK in the same tenor. The ladle furnace equipment comes from Luxembourg manufacturer Paul Worth and the financing is guaranteed by Office du Ducroire, the Luxembourg export credit agency.