SUMZ was issued loans for 50% of its value

​The Middle Ural copper smelting plant (SUMZ in the structure of UGMK of A. Kozitsyn) signed a general agreement on the opening of a revocable framework credit line as of August 27th 2015 with Sberbank.

The 3-year loan will be spent for the fulfillment of the company’s circulation funds, the amount of the loan is 5 bln roubles with the value of the enterprise of 16.6 bln roubles. the guarantees by the loan are UGMK-Holding Ltd and Svyatogor OJSC.

A week earlier, on August 20th, SUMZ was issued a loan by Gazprombank by the guarantee of UGMK-Holding for $15 mln (986 mln roubles), that makes up 5.9% of the value of the company’s assets. The loan was issued for 3 years. A similar deal or $40 mln (13.4% of assets) was signed with Gazprombank on July 14th 2015.