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Ferrexpo secures $195 million three-year revolving credit facility
By Sarah Lizee
Olympia, Wash., Nov. 17 – Ferrexpo plc signed a new $195 million three-year secured revolving credit facility, according to news release.
The facility was arranged by BNP Paribas and includes a syndicate of six international lenders.
It will amortize over eight quarters with final repayment on Dec. 31, 2020 and will be used for general corporate purposes.
“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,” Chris Mawe, chief financial officer, said in the release.
“The facility will significantly reduce the group’s average cost of funding and extend its debt maturity profile.”
Ferrexpo is a Baar, Switzerland-based iron ore company with assets in Ukraine.
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