Business
Ferrexpo prices a debut US$500m eurobond
Ferrexpo prices a debut US$500m eurobond.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \nRNS Number : 1320E Ferrexpo PLC 01 April 2011 \n \n\n1 April 2011\nThis announcement does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000 of the United Kingdom.\nFerrexpo plc\n(\"Ferrexpo\", the \"Group\" or the \"Company\")\nFerrexpo successfully prices a debut US$500 million eurobond\nFerrexpo is pleased to announce that on 31 March 2011 it priced its debut eurobond issue of US$500 million at par with a 7.875% coupon. The issue's settlement date is on 7 April 2011 with a maturity of 7 April 2016. \nThe offering received strong international interest with European, US and Asian investors. The bonds are expected to be officially listed on the London Stock Exchange on or around 7 April 2011. \nJ.P. Morgan Securities Ltd., Morgan Stanley & Co. International plc and UBS Investment Bank acted as joint bookrunners for the US$ Rule 144A/Reg. S issue.\n \nThe bonds are rated B, B+ and B3 by Fitch, S&P and Moody's respectively. \nChris Mawe, Chief Financial Officer of Ferrexpo, said:\n \n\"Ferrexpo is delighted to have successfully placed its debut eurobond issue, which was oversubscribed, at a yield of 7.875%. We believe this is the lowest yield achieved by a company with Ukrainian assets since 2005 and reflects the quality of Ferrexpo's iron ore assets and operations. This long term financing is the next step in the development of our growth strategy as a world class iron ore pellet producer.\"\n \nFor further information, please contact:\n \n\n\n\n\nFerrexpo: \n\n\n\n\n\n\n\nIngrid McMahon\n\n\n+44 207 389 8304\n\n\n\n\n\n\n\n\n\n\n\n\nPelham Bell Pottinger\n\n\n\n\n\n\n\nCharles Vivian\n\n\n+44 207 861 3126\n\n\n\n\nJames Macfarlane\n\n\n+44 207 861 3864\n \n \n\n\n\n\nNot for release, directly or indirectly, in or into the United States of America, Australia, Canada or Japan. The securities referred to herein have not been and will not...