Daily News: November 17, 2017

BNP Paribas Leads New Ferrexpo $195MM Revolver

BNP Paribas and a syndicate of six international lenders arranged a new $195 million secured three-year revolving credit facility for Ferrexpo. The facility will be used for general corporate purposes and amortize over eight quarters, with final repayment due December 2020.

“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,” said Chris Mawe, CFO of Ferrexpo. “The facility will significantly reduce the group’s average cost of funding and extend its debt maturity profile.”

Ferrexpo is a Swiss-based iron ore company with assets in Ukraine.