Evraz refinances in North America with $610m facility

Company News

Evraz refinances in North America with $610m facility

Thu, 29 December 2011
Article viewed 1 times
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
Mylan Inc. 39.59 2.46 14:30
Monster Beverage Corp 49.43 2.25 14:30
eBay Inc. 34.61 2.22 14:30
Intuit Inc. 129.15 1.56 14:30
Celgene Corp. 117.31 1.38 14:30

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Alexion Pharmaceuticals Inc. 104.64 -9.34 14:30
Xilinx Inc. 63.97 -5.26 14:30
Tractor Supply Company 54.29 -3.57 14:30
O'Reilly Automotive Inc. 240.18 -3.33 14:30
Viacom Inc. Class B 34.32 -2.61 14:30