December 02, 2008

Evraz to raise USD 1.8 billion syndicated loan to refinance bridge loan

Thomson Financial reported that Evraz Group SA plans to raise USD 1.8 billion by way of a syndicated loan in order to refinance a bridge loan it obtained in March to fund the takeover of Oregon Steel.

A banking industry source told that Evraz might still try to obtain the loan this year, pending market conditions.

Evraz needs to refinance the earlier bridge loan by May 2008.