Business
EVRAZ Prepays $950m Structured Credit Facility
EVRAZ Prepays $950m Structured Credit Facility.
About this update from Evraz Plc
[{"type":"text","content":"\n \nRNS Number : 1718D Evraz Plc 24 April 2013 \n \n\nEVRAZ Prepays US$950 Million Structured Credit Facility Due 2015 \n24 April 2013 - EVRAZ plc (LSE: EVR) announces that it has prepaid the outstanding US$759 million of the US$950 million structured credit facility (the \"Facility\"), using the proceeds from the recent US$1 billion issuance of 6.50% notes due 2020. The Facility, under which Evraz Group S.A., a wholly-owned subsidiary of EVRAZ plc, was the borrower, was amortising quarterly with the final instalment due in November 2015.\nThe repayment of the Facility, to which attached certain covenants on net leverage, represents a further step in the Company's ongoing management of its financial covenants in the continuing challenging market environment.\n \n###\n \nFor further information:\n \nMedia Relations: \nOleg Kuzmin\nVP, Corporate Communications\nLondon: +44 207 832 8998 Moscow: +7 495 937 6871\[email protected] \n \nInvestor Relations:\nSergey Belyakov\nDirector, Investor Relations\nLondon: +44 207 832 8990 Moscow: +7 495 232 1370\[email protected]\n \n \nEVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 million tonnes of steel products. 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 2012 were US$14,726 million, and consolidated EBITDA amounted to US$2,012 million. \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCQZLFLXZFEBBV\n ","length":3352,"tagName":"div"}]