New Credit Facility (5118N)
02 9월 2011 - 3:00PM
UK Regulatory
TIDMFXPO
RNS Number : 5118N
Ferrexpo PLC
02 September 2011
2 September 2011
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
New Credit Facility
Ferrexpo is pleased to announce that it has secured a new credit
facility of US$420 million ("the credit facility"). The credit
facility can be drawn at any time during the loan term which has a
maturity of 5 years including amortization over 2 years.
The new credit facility carries a cost of 225bps above LIBOR on
drawn amounts, and will initially remain undrawn.
ING Bank N.V., UniCredit Bank AG, and Societe Generale Corporate
and Investment Banking acted as Co-ordinating Mandated Lead
Arrangers alongside 7 other prominent financial institutions:
-- UniCredit Bank Austria AG
-- West LB AG
-- ICBC London plc
-- ABN Amro Bank N.V.
-- Credit Suisse AG
-- J.P. Morgan Limited
-- Citibank N.A.
The Co-ordinating Mandated Lead Arrangers together with West LB
and ICBC acted as book runners. UniCredit Bank AG acted as
Documentation Co-ordinator, ING the Facility Agent, and ICBC as
Credit Support Account Agent.
Chris Mawe, Chief Financial Officer of Ferrexpo said:
"This new credit facility is testimony to the strength of
Ferrexpo's balance sheet and the quality of the business. The size
and tenor of the facility complements the Group's recent US$500
million Eurobond issue and provides the necessary financial
flexibility to continue to develop the Group's significant project
pipeline."
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
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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