Ferrexpo Settles Loan Facility After Making Final Payment On Schedule

LONDON (Alliance News) - Ferrexpo PLC Monday said it has now fully repaid the USD420.0 million owed under its pre-export finance facility after making the final scheduled payment on time.

The Ukraine-focused iron ore pellets producer said the facility has now been repaid after amortising in equal instalments over the past 24 months. Ferrexpo remained in full compliance with all covenants during the tenor of the loan.

"Strong cash flow generation from operations due to record production of the group's premium product as well as record sales volumes and lower costs have enabled the group to repay its debt on time and in full," said Chief Financial Officer Chris Mawe.

"Ferrexpo remains committed to meet all of its debt repayment obligations and to continue to strengthen its balance sheet," he added.

Ferrexpo shares were up 6.5% to 49.0 pence per share on Monday morning.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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