It is reported that iron ore company Ferrexpo has secured a new credit facility of USD 420 million and the loan has a maturity of five years including amortization over two years.

ING Bank, UniCredit Bank and Societe Generale Corporate and Investment Banking acted as co-ordinating mandated lead arrangers alongside seven other financial institutions.

Mr Chris Mawe Ferrexpo chief financial officer said that the size and tenor of the facility complements the company recent USD 500 million Eurobond issue and provides the necessary financial flexibility to continue to develop its significant project pipeline.

(Sourced from www.energy-business-review.com)