ChelPipe pledges 6.3 bln rubles of property for PNTZ's syndicated credit
CHELYABINSK. Dec 18 (Interfax) - Chelyabinsk Pipe-Rolling Plant (ChTPZ) (ChelPipe) has signed a pledge agreement for 6.3328 billion rubles worth of movable property as collateral for a syndicated credit that OJSC Pervouralsk New Pipe Plant (PNTZ) took out in October.
ChelPipe and PNTZ are both part of the ChTPZ Group.
ChelPipe said in a statement that it signed this document, which is valid until October 30, 2019, on Monday.
The contract was signed with a pool of banks including Sberbank of Russia , Gazprombank , Bank of Moscow , Raiffeisenbank, Nomos-Bank , CJSC UniCredit Bank, Alfa Bank , Uralsib , Sviaz Bank , MTS Bank , TransCreditBank , Chelindbank , Surgutneftegazbank and Ak Bars Bank .
At the end of October, pipe factories in the ChTPZ Group took out seven-year loans worth a total of 86.575 billion rubles from a pool of banks headed by Sberbank, Gazprombank and Bank of Moscow. In particular, ChelPipe took out a loan of no more than 58.53 billion rubles, and PNTZ borrowed no more than 28.045 billion rubles. These loans have to be paid back by October 30, 2019.
For ChelPipe, the obligations for the transactions, including interest payments, total 107 billion rubles. For PNTZ, they come to 51 billion rubles.
At the end of November, ChelPipe and PNTZ provided guarantees on these loans for one another. Both surety agreements are valid until October 30, 2025.
The ChTPZ Group manages the iron and steel enterprises ChelPipe, PNTZ, scrap metal company LLC Meta, the metal trading subdivision CJSC Uraltrubostal Trading House, and an oil service division represented by Rimera. Arkley Capital manages the group's assets.