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.
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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."