October 08, 2008

Evraz seeking USD 2.2 billion loan -Report

Reuters reported that ABN AMRO is putting together a group of mandated lead arrangers for a USD 2.2 billion syndicated loan for Evraz Group.

The report cited a banking source as saying that the loan will be used to refinance a USD 1.8 billion bridge facility which expires in the spring of 2008.

In March 2007, Evraz signed a one year USD 1.8 billion bridge financing to fund its acquisition of Oregon Steel of the United States. That deal paid a margin of 110 basis points over LIBOR.