Evraz, TMK Each Seek $2Bln Loans

Evraz Group, a steelmaker part-owned by billionaire Roman Abramovich, and pipe maker TMK are seeking to raise $2 billion each to finance the purchase of assets from SSAB, Interfax reported, citing unidentified bankers.

ABN Amro and Calyon are arranging the loan for Evraz, Interfax said. ABN Amro and two other banks are arranging the loan for TMK, the news agency quoted another banker as saying. Evraz and TMK could not confirm this, Interfax said.

The loans for up to one year will be arranged through separate transactions, and the structures of the loans are still being discussed, the news service said.

Evraz last week agreed to buy North American units from SSAB for $4.03 billion. It is selling on U.S. assets to TMK for a total of $1.7 billion.