Evraz NA Signs US$610m Revolving Facility (6555U)
December 28 2011 - 2:00AM
UK Regulatory
TIDMEVR TIDMEVRZ
RNS Number : 6555U
Evraz Plc
28 December 2011
Evraz NA Signs USD610 Million Revolving Facility
28 December 2011- EVRAZ plc (LSE: EVR) announces the closing of
a USD610 million five-year committed revolving credit facility for
its US and Canadian wholly-owned subsidiaries ("Evraz NA"). The
facility is an asset-based revolving credit line secured with the
inventories and receivables of Evraz NA.
The funds will be used to re-finance the existing USD225 million
and CAD300 million facilities, as well as for financing Evraz NA's
working capital requirements and for other corporate purposes.
Amounts drawn under the new facility will bear interest at floating
rates with margins varying between 1.50% to 2.00% over LIBOR
depending on the utilisation level, compared to between 3.25% and
4.25% on the refinanced facilities.
GE Capital Markets, Inc., GE Capital Markets (Canada) Ltd.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Loan
Finance LLC acted as Joint Lead Arrangers and Joint Bookrunners for
the transaction.
###
For further information:
Investor Relations: Alexander Boreyko Director, Investor
Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
Media Relations: Oleg Kuzmin VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871 media@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, USA,
Canada, Czech Republic, Italy and South Africa. EVRAZ was ranked
the 15th largest steel producer in the world based on crude steel
production of 16.3 million tonnes in 2010. A significant portion of
the Group's internal consumption of iron ore and coking coal is
covered by its mining operations. The Group's consolidated revenues
for the year ended 31 December 2010 were US$13,394 million and
consolidated adjusted EBITDA amounted to US$2,350 million. EVRAZ
plc holds 99.8% of Evraz Group S.A.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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