Ferrexpo prices a debut US$500m eurobond (1320E)
01 4월 2011 - 7:46PM
UK Regulatory
TIDMFXPO
RNS Number : 1320E
Ferrexpo PLC
01 April 2011
1 April 2011
This announcement does not constitute an invitation or offer to
underwrite, subscribe for or otherwise acquire or dispose of any
securities nor is it intended to be an inducement to engage in
investment activity for the purpose of Section 21 of the Financial
Services and Markets Act 2000 of the United Kingdom.
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
Ferrexpo successfully prices a debut US$500 million eurobond
Ferrexpo is pleased to announce that on 31 March 2011 it priced
its debut eurobond issue of US$500 million at par with a 7.875%
coupon. The issue's settlement date is on 7 April 2011 with a
maturity of 7 April 2016.
The offering received strong international interest with
European, US and Asian investors. The bonds are expected to be
officially listed on the London Stock Exchange on or around 7 April
2011.
J.P. Morgan Securities Ltd., Morgan Stanley & Co.
International plc and UBS Investment Bank acted as joint
bookrunners for the US$ Rule 144A/Reg. S issue.
The bonds are rated B, B+ and B3 by Fitch, S&P and Moody's
respectively.
Chris Mawe, Chief Financial Officer of Ferrexpo, said:
"Ferrexpo is delighted to have successfully placed its debut
eurobond issue, which was oversubscribed, at a yield of 7.875%. We
believe this is the lowest yield achieved by a company with
Ukrainian assets since 2005 and reflects the quality of Ferrexpo's
iron ore assets and operations. This long term financing is the
next step in the development of our growth strategy as a world
class iron ore pellet producer."
For further information, please contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Pelham Bell Pottinger
Charles Vivian +44 207 861 3126
James Macfarlane +44 207 861 3864
Not for release, directly or indirectly, in or into the United
States of America, Australia, Canada or Japan. The securities
referred to herein have not been and will not be registered under
the US Securities Act of 1933 (the "Securities Act"), and may not
be offered or sold in the United States unless the securities are
registered under the Securities Act or an exemption from the
registration requirements of the Securities Act is available. These
materials do not constitute or form part of any offer or
solicitation to purchase or subscribe for securities in the United
States. No public offering of the securities will be made in the
United States.
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It is principally involved in the production and export
of high quality iron ore pellets, which are used in the manufacture
of steel. Ferrexpo's resource base is one of the largest iron ore
deposits in the world. Its current producing asset, FPM, produced
approximately 10 million tonnes of iron ore pellets in 2010 making
it the largest exporter of pellets in the CIS. The Company has a
diversified customer base supplying steel mills in Austria, Serbia,
Slovakia, Czech Republic, Germany and other European states, as
well as in China, India, Japan, and other Asian countries. Ferrexpo
is listed on the main market of the London Stock Exchange under the
ticker FXPO. For further information, please visit
www.ferrexpo.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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