Ferrexpo attracts new USD 230 mln loan facility

Ferrexpo (FXPO LN) announced this morning that it secured a new USD 230 mln pre-export financing facility. The loan will be available for drawdown from January 1, 2010 and is to be used for financing and general corporate purposes. The loan matures 36 months from January 1, 2010 and is to be repaid in 24 equal monthly installments beginning January 2011. The margin of the loan is 7% above US dollar LIBOR. According to Ferrexpo, the loan is the first financing attracted by a metals & mining company with assets in the CIS since September 2008.