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posted 21 Dec 2009
People & places
Ferrexpo secures $230m PXF
Swiss iron ore producer Ferrexpo has secured a $230m pre-export financing loan, making it the first metals and mining company with assets in the CIS to conclude such a deal since the start of the global financial crisis.
The loan has a one-year tenor and carries a margin of 7.00% above Libor. Full details are included below.
Deutsche Bank’s Head of Structured Commodity and Trade Finance for EMEA, Kris Van Broekhoven, said the Bank had been impressed by Ferrexpo’s response to challenging market conditions. “Ferrexpo’s strong performance in the downturn, its business record and commitment to best practice make it an attractive customer to financial institutions,” he said.
Deal breakdown
Coordinator, mandated lead arranger and bookrunner: Deutsche Bank
Other lenders:
WestLB, BNP Paribas, Fortis Bank, Natixis, Raiffeisen Zentralbank Öesterreich, JP Morgan, UBS Investment Bank, Sticting Pensioenfonds Zorg en Welzijn, Calyon and VTB Bank.
