Ferrexpo PLC New Credit Facility (7618W)
November 17 2017 - 2:00AM
UK Regulatory
TIDMFXPO
RNS Number : 7618W
Ferrexpo PLC
17 November 2017
17 November 2017
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
New Credit Facility
Ferrexpo is pleased to announce that it has signed a new secured
three year revolving credit facility of US$195 million (the "Credit
Facility"). The committed Credit Facility was arranged by BNP
Paribas and includes a syndicate of six international lenders. The
Credit facility will amortize over eight quarters with final
repayment on 31 December 2020 and will be used for general
corporate purposes.
Chris Mawe, Chief Financial Officer of Ferrexpo said:
"This new Facility is testimony to the strong business profile
of the Group and is a continuation of Ferrexpo's strategy to
further strengthen its balance sheet in a volatile commodity price
environment. The Facility will significantly reduce the Group's
average cost of funding and extend its debt maturity profile."
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. The Group is currently the 3rd largest exporter of
pellets to the global steel industry and the largest exporter of
pellets from the Former Soviet Union. In 2016, it produced 11.2
million tonnes of pellets reflecting a 2% increase in production of
the Group's highest quality pellets to a record 10.5 million
tonnes. Ferrexpo has a diversified customer base supplying steel
mills in Austria, Slovakia, the Czech Republic, Germany and other
European states, as well as in China, India, Japan, Taiwan and
South Korea. 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
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