Ferrexpo pays coupon on its Eurobond

Iron ore miner and pellet maker Ferrexpo (FXPOLN, FXPO LN) paid on April 7 the semi-annual coupon on its USD 346 mln in Eurobonds that mature in equal installments in 2018 and 2019, the company informed Concorde Capital the same day.

Roman Topolyuk: The coupon amount is about USD 18 mln and supports our expectation that Ferrexpo will be able to cope with servicing its debt this year, including paying interest and principals, due to stable pellet premiums, low costs, minimum CapEx for maintenance and no dividends. We reiterate our bullish view on FXPOLN.