Evraz refinances in North America with $610m facility

Company News

Evraz refinances in North America with $610m facility

Thu, 29 December 2011
Evraz refinances in North America with $610m facility

Shares in steel giant Evraz fell in morning trade on Wednesday after the firm signed a $610m five-year revolving credit facility for its US and Canadian subsidiaries.

The funds will be used to re-finance the existing $225m and C$300m facilities, as well as other capital requirements, the group said.

The new facilities will bear interest at floating rates with margins between 1.50% and 2% over the LIBOR rate. The rates depend on the utilisation level.

Shares were down 3.75% at 377.7p by 09:26, despite the new rates replacing the much-higher 3.25% and 4.25% on the refinanced facilities.


NASDAQ 100 Top Risers

Name Last Chg.% Time
Nxp Semiconductors Nv 88.33 4.56 16:57
Illumina Inc. 185.04 2.54 16:57
Skyworks Solutions Inc. 82.04 2.15 16:57
American Airlines Group 42.17 2.08 16:57
Walgreens Boots Alliance, Inc. 85.03 1.95 16:57

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Keurig Green Mountain Inc 51.15 -3.05 16:57
Vimpelcom Ltd Ads 3.52 -2.22 16:57
Viacom Inc. Class B 51.21 -2.18 16:57
Wynn Resorts Ltd. 61.00 -2.01 16:57
Stericycle Inc. 120.31 -1.72 16:57