OREANDA-NEWS. July 02, 2012. EVRAZ plc (LSE: EVR) has agreed amendments to its USD 950 million syndicated structured credit facility maturing in 2015, as well as a number of bilateral facilities, changing the financial covenants as part of its ongoing treasury management.

The amendments include the change of maximum net leverage ratio from 3.0x to 3.5x and minimum EBITDA to interest expense ratio from 3.5x to 3.0x. These changes apply to all the bank facilities having financial covenants tested on consolidated financials of EVRAZ’s wholly-owned subsidiary Evraz Group S.A., which is the borrower under the syndicated facility and guarantor under the bilateral facilities. The total amount of those facilities is approx. USD 1.4 billion, of which USD 759 million is outstanding under the syndicated facility.