Login/Register

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.

BC

FTSE 100 Top Risers

Name Last Chg.% Time
Centrica 282.70 4.16 17:02
Randgold Resources Ltd. 5,595.00 2.66 17:11
International Consolidated Airlines Group SA (CDI) 561.00 2.19 16:57
SSE 1,545.00 1.91 17:00
easyJet 1,789.00 1.88 17:02

FTSE 100 Top Fallers

Name Last Chg.% Time
TUI AG Reg Shs (Post- 16/12/14)(DI) 1,132.00 -3.33 17:01
Weir Group 1,640.00 -2.79 16:51
Intertek Group 2,268.00 -2.70 17:08
Rolls-Royce Holdings 879.00 -2.66 17:10
ITV 225.90 -2.50 17:01