New Debt Facility
28 September 2010 - 8:00AM
UK Regulatory
TIDMFXPO
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 | +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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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