Steel Producer EVRAZ Raises Large Credit Facility
Posted on 03/28/2020
Founded as a small metals-trading business in 1992, EVRAZ plc is now a multinational vertically integrated steel making and mining company with major operations in Russia. EVRAZ is headquartered in London and in June 2005 floated shares in the city. The two largest owners in EVRAZ are Russian billionaire Roman Abramovich and the company’s chairman Alexander Abramov.
EVRAZ recently signed a US$ 750 million syndicated unsecured credit facility, maturing in 2025. The credit facility was arranged and fully underwritten by a group of 10 international banks. Part of the debt will be used for refinancing public debt maturities upcoming in the first quarter of 2021. Law firm Morgan, Lewis & Bockius LLP advised EVRAZ on the credit facility.
