Ferrexpo PLC Ferrexpo Credit Facility (2694X)
09 8월 2018 - 3:01PM
UK Regulatory
TIDMFXPO
RNS Number : 2694X
Ferrexpo PLC
09 August 2018
9 August 2018
FERREXPO plc
("Ferrexpo" or the "Group")
Extension and increase of 2017 credit facility to US$400
million
Ferrexpo is pleased to announce it has increased its 2017
Pre-Export Finance credit facility (the 'Credit Facility') from
US$195 million to US$400 million and extended the tenor from three
to four years. The Credit Facility is a revolving committed
facility and has a one year grace period before quarterly
amortisations commence.
The Credit Facility was arranged by BNP Paribas and Deutsche
Bank and includes seven other international lenders. The cost of
the Facility remains 450 basis points above US Libor.
Chris Mawe, Chief Financial Officer of Ferrexpo said:
"The extension of this Facility smooths and extends the Group's
debt maturity profile and is in line with Ferrexpo's strategy to
have a principal revolving, low cost, long term debt facility that
amortises on a quarterly basis."
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. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for 40 years.
Ferrexpo's resource base is one of the largest iron ore deposits in
the world. In 2017, the Group produced 10.4 million tonnes of
pellets ranking it as the 3(rd) largest exporter of pellets to the
global steel industry with a market share of approximately 8.5%.
Ferrexpo has a diversified customer base supplying steel mills in
Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the
Czech Republic, Turkey and Vietnam. Ferrexpo has a premium listing
on the main market of the London Stock Exchange under the ticker
FXPO. For further information, please visit www.ferrexpo.com
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END
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