Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, has reduced its debt on pre-export financing by $45 million, to $228 million by early repayment of part of this debt.

"Metinvest, the international vertically integrated group of steel and mining companies, has repaid $45 million of its pre-export finance (PXF) facility ahead of schedule. Following this, the remainder due under it is $228 million," the group said in a press release.

"The move was made possible by the group's strong liquidity amid favorable steel and iron ore market conditions. The intention is to release Metinvest from scheduled principal repayments under the facility for the next few months, providing further flexibility for servicing the debt portfolio and underscoring the group's prudence in managing its liabilities," the report says.

Metinvest is a vertically integrated group of mining and metallurgical enterprises. The group's enterprises are located mainly in Donetsk, Luhansk, Zaporizhia and Dnipropetrovsk regions.

The main shareholders of Metinvest are SCM Group (71.24%) and Smart-Holding (23.76%), jointly managing the company.

Metinvest Holding LLC is the management company of Metinvest Group.