Business
Credit facilities for Evraz I
Credit facilities for Evraz I.
About this update from Evraz Plc
[{"type":"text","content":"\n RNS Number : 4025B Evraz Group S.A. 15 August 2008 \n \nfor immediate release \n\n \nEVRAZ INC.NA SECURES US$725 MILLION OF BANK FINANCING\n\n\nAugust 15, 2008 - Evraz Group S.A. (LSE: EVR) ('Evraz' or the 'Company') announces the closing of a US$550 million five-year revolving credit facility and a US$175 million five-year term loan facility for its North American division, Evraz Inc. NA. The facilities bear the floating interest rate of LIBOR plus 2.5% and LIBOR plus 3.25% respectively and are secured by the assets of Evraz Inc. NA and its subsidiaries.\n\nThe funds will primarily be used to refinance existing indebtedness of Evraz Inc. NA.\n\nThe revolving credit facility was jointly led by RBS Greenwich Capital and GE Capital with RBS Business Capital and GE as co-collateral agents. The Term Loan was led by RBS Greenwich Capital. \n\nCommenting, Pavel Tatyanin, Evraz Group's Senior Vice President and CFO, said: 'We are pleased to successfully close the transaction. It demonstrates Evraz's ability to secure external financing even in the current complex credit environment as well as the confidence of the financial community in the Company's strong business model in North America'.\n\n\n\n###\n\nFor further information:\n\nEvraz Group\nCorporate Affairs and Investor Relations\nAlexey Ivanov\nTel: +7 495 232 1370\[email protected] \n \n\nEvraz Group S.A. is a large vertically‑integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Europe, USA, Canada and South Africa. Evraz produced 16.4 million tonnes of crude steel in 2007, ranking it among the 17 largest steel producers in the world by volume. Its mining operations cover more than 91% of iron ore and over 100% of coking coal internal consumption. Evraz's total consolidated revenues for the year ended 31 December 2007 were US$12,808 million and consolidated EBITDA was US$4,254 million. For further information visit www.evraz.com\n\n\n \nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUVSVRWWRWARR \n ","length":4063,"tagName":"div"}]