Ferrexpo secures $195m revolving credit facility

Ferrexpo has signed a new secured three year revolving credit facility of $195m that will be used for general corporate purposes.

The committed credit facility was arranged by BNP Paribas and includes a syndicate of six international lenders. It will amortise over eight quarters with final repayment on 31 December 2020.

Chief financial officer Chris Mawe said: "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.

“The facility will significantly reduce the group's average cost of funding and extend its debt maturity profile."