Ferrexpo negotiating USD 300 mln five-year loan .

Ferrexpo negotiating USD 300 mln five-year loan .



10 жовтня 2013 года
Конкорд Капитал

Ferrexpo (FXPO)


Ferrexpo (FXPO LN), the leading Ukrainian iron ore pellet exporter, is seeking USD 300 mln in pre-export secured financing, Bloomberg reported on Oct. 9. The five-year facility under discussion may have a LIBOR rate of +325 bps.

Roman Topolyuk: This attempt marks Ferrexpo’s third approach of the debt market in 2013 after the company considered bonds at the year’s beginning and a three-year, pre-export facility of USD 250 mln in July. Debt funds with a maturity of five years may be used to construct a 10 mmt concentrator once it’s approved by the board, which is expected in 4Q13-1Q14. Ferrexpo has ample capacity to raise new debt, with a net debt-to-EBITDA 2013F of below 1x, by our numbers.

Источник: Конкорд Капитал

Аналитик: Роман Тополюк
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