EVRAZ signs US$425 million syndicated pre-export credit facility
13 August 2014- EVRAZ plc (LSE: EVR) ("EVRAZ") announces the signing by EVRAZ Consolidated West Siberian Metallurgical Plant and EVRAZ Nizhny Tagil Metallurgical Plant (the "Borrowers") of a US$425 million 5-year Pre-Export Credit Facility ("Facility") with a syndicate of international banks. Interest under the Facility is payable at a rate equal to LIBOR plus a margin calculated by reference to EVRAZ's net leverage ratio, currently set at 3.5 percent, and will amortise in equal quarterly instalments after a grace period of 24 months. The Facility is secured by the Borrowers' export revenues and is guaranteed by parent company EVRAZ plc and EVRAZ's trading company East Metals AG.
The proceeds will be used to refinance EVRAZ's existing financial indebtedness.
The deal was supported by EVRAZ's major relationship banks including Deutsche Bank AG and ING Bank N.V. as Coordinating Mandated Lead Arrangers and Bookrunners, OJSC Nordea Bank as Senior Mandated Lead Arranger and Bookrunner, with Société Générale and Joint Stock Commercial Bank "ROSBANK" (Open joint-stock company), together referred to as "SG Group" as Senior Mandated Lead Arrangers and Raiffeisen Bank International AG and ZAO Raiffeisenbank, together "RBI Group" acting as Mandated Lead Arrangers.
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For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
[email protected]
Investor Relations:
London: +44 207 832 8990 Moscow: +7 495 232 1370
[email protected]
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 16.1 million tonnes in 2013. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2013 were US$14,411 million, and consolidated EBITDA amounted to US$1,821 million.
