- Ferrexpo has signed a new secured three-year revolving credit facility of US$195m.

The committed credit facility was arranged by BNP Paribas and includes a syndicate of six international lenders.

The credit facility will amortise over eight quarters with final repayment on 31 December 2020 and will be used for general corporate purposes. Chief financial officer Chris Mawe said: 'This new Facility is testimony to the strong business profile of the Group and is a continuation of Ferrexpo's strategy to further strengthen its balance sheet in a volatile commodity price environment.

'The facility will significantly reduce the group's average cost of funding and extend its debt maturity profile.'

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