Ferrexpo, associated with domestic tycoon Konstantin Zhevago, reached agreements for USD 195mln syndicated loan maturing in three years.
The organizer of the deal for Ferrexpo plc was BNP Paribas. The syndicate includes six foreign lenders. The loan matures on December 31, 2020. The funds will be channeled for general corporate purposes.
The loan allocation reflects solid position of the business of Ferrexpo plc. Ferrexpo continues to implement a strategy to further strengthening its financial stamina in market conditions of instability in prices for raw materials.
In 2016, Ferrexpo Group posted USD 189mln in net profit. The revenue of the group also increased to USD 986.33mln. The company's net debt reduced to USD 589mln last year.
