EVRAZ Prepays USD 950 mn Structured Credit Facility due 2015
OREANDA-NEWS. EVRAZ plc (LSE: EVR) announces that it has prepaid the outstanding USD 759 million of the USD 950 million structured credit facility (the “Facility”), using the proceeds from the recent USD 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 installment due in November 2015.
The 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.
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