Ferrexpo opens line of credit worth USD 500mln

Ferrexpo opens line of credit worth USD 500mln

Ferrexpo Finance plc, Ferrexpo AG, and Ferrexpo Middle East FZE participate in the facility allocation

Ferrexpo opened USD 500mln line of credit under collateral of PJSC Poltava GOK corporation company, according to one of the company's representatives. It will be a revolving credit for export operations with an interest rate not higher than LIBOR +4% for three-month deposits in US dollars maturing September 30, 2021. The borrowers are Ferrexpo Finance plc, Ferrexpo AG, Ferrexpo Middle East FZE. BNP Paribas S.a is acting as an organizer and coordinating commissioner, and a co-signer for the payments of the Ferrexpo group of companies.

Ferrexpo is a Swiss registered iron ore company with its major assets in Ukraine. The company produces and exports high-quality iron ore pellets used in the production of steel. The Ferrexpo group, which owns Poltava and Eristov GOKs, is the largest producer and exporter of pellets in the CIS countries.

In 2016, Ferrexpo produced 11.2mln tons of iron ore pellets. Ferrexpo exports for the steel mills in Austria, Slovakia, the Czech Republic, Germany, China, India, Japan, Taiwan and South Korea.

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