Ferrexpo PLC Repayment of US$420 m Pre Export Finance Facility (8240F)
01 8월 2016 - 6:34PM
UK Regulatory
TIDMFXPO
RNS Number : 8240F
Ferrexpo PLC
01 August 2016
FERREXPO plc
("Ferrexpo" or the "Group")
Repayment of US$420 million Pre Export Finance Facility
Ferrexpo is pleased to announce that on 29 July 2016 the Group
made the final scheduled repayment of its US$420 million pre-export
finance facility that has been amortising in equal instalments over
the past 24 months.
As previously announced, the syndicate that agreed the facility
in 2011 included ING Bank N.V., UniCredit Bank Austria AG, Société
Générale, ABN Amro Bank N.V., Netherlands,Citibank N.A.,
U.K.,Credit Suisse AG, Switzerland, ICBC London plc, U.K, West LB
AG, Germany, JP Morgan Chase Bank, N.A., London Branch. The
facility carried a cost of 225bps above US LIBOR.
Ferrexpo remained in full compliance with all covenants during
the tenor of the loan.
Chris Mawe, Ferrexpo's Chief Financial Officer, said, "Strong
cash flow generation from operations due to record production of
the Group's premium product as well as record sales volumes and
lower costs have enabled the Group to repay its debt on time and in
full.
"Ferrexpo remains committed to meet all of its debt repayment
obligations and to continue to strengthen its balance sheet."
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland:
James Isola +44 207 379 5151
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and transport and sales operations throughout the world.
It has been mining and processing high quality iron ore pellets for
the global steel industry for over 35 years. Ferrexpo's resource
base is one of the largest iron ore deposits in the world. The
Group is currently the 3rd largest supplier of pellets to the
global steel industry and the largest producer and exporter of
pellets from the Former Soviet Union. In 2015, it produced 11.7
million tonnes of pellets, a 6% increase compared to 2014 and a
record for the Company. Ferrexpo has a diversified customer base
supplying steel mills in Austria, Germany, Japan, South Korea,
China as well as other European and Asian countries. Ferrexpo is
listed on the main market of the London Stock Exchange under the
ticker FXPO. For 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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August 01, 2016 05:34 ET (09:34 GMT)
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