New Debt Facility

RNS Number : 3850T

Ferrexpo PLC

28 September 2010

 



28 September 2010

Ferrexpo plc

("Ferrexpo", the "Group" or the "Company")

New Debt Facility

Ferrexpo is pleased to announce that it has secured a new Pre-Export Financing ("PXF") facility for an amount of US$350 million (the "Loan").  The Loan matures on 31 March 2014, amortisingover 24 months following an 18 month grace period.         

Deutsche Bank AG acted as Coordinator, Mandated Lead Arranger and Sole Bookrunner for the Loan and provided funding, alongside 11 other prominent financial institutions, including:

·      ABN AMRO Bank N.V.	·      BNP Paribas
·      Credit Suisse AG	·      J.P. Morgan
·      Natixis	·      RZB
·      Société Générale	·      UniCredit Bank AG
·      WestLB AG	·      Caterpillar Financial (Zurich)
·      UBS Investment Bank

Chris Mawe, Chief Financial Officer of Ferrexpo, said:

"Ferrexpo is pleased to have successfully renewed its debt facilities. The Company initially aimed to secure a facility of US$300 million; this was significantly oversubscribed and the facility was subsequently increased to US$350 million. The Group remains strongly cash generative and this financing, in addition to our growing cash balance, provides the Company with the financial flexibility to progress with key expansion projects." 

For further information, please contact:

Ferrexpo:
Ingrid McMahon	[phone]
Pelham Bell Pottinger
Charles Vivian	[phone]
James Macfarlane	[phone]

Notes to Editors:

Ferrexpo is a Swiss headquartered resources company with assets in Ukraine, principally involved in the production and export of iron ore pellets, used in producing steel. Current output is approximately 9 million tonnes, which is exported to steelmakers around the world. The Group is listed 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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