Parent company pays off MMK Metalurji debt, saves $403m

Magnitogorsk Iron & Steel Works (MMK) has repaid in full and ahead of schedule investment loans it raised to fund construction of its steel plant in Turkey.

As a result, the MMK Group’s total debt was reduced by $403 million, the company said on Tuesday July 19. “The decision to repay the outstanding debt in full was taken...


Serife Durmus

July 19, 2016

16:28 GMT