Severstal receives US$360M outstanding debt repayment from Nordgold

Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, has received a debt repayment of US$360 million from Nord Gold N.V. (“Nordgold”) (LSE: NORD).

This repayment completes all debt arrangements between Severstal and Nordgold following the split-off of Nordgold from Severstal completed in January 2012 and further underpins Severstal’s strong financial position and level of liquidity.

Alexey Kulichenko, CFO of Severstal commented: “The split-off of Nordgold from Severstal represented an important stage in our stated strategy to be a leading focused steel and steel related mining company. This outstanding debt repayment represents the final stage of this transaction and further reinforces our strong balance sheet.”