Evraz in August announced plans to expand capacity at Evraz Oregon Steel in Portland, shown in this 2007 photo, to make pipe used in energy exploration.
Russian steel-maker Evraz on Wednesday said its North American subsidiary, formerly based in Portland, may borrow as much as $610 million to refinance its debt.
Evraz North America Inc., which relocated earlier this year from Portland to Chicago, has agreed to a new five-year revolving credit facility that will replace existing credit agreements of $225 million in U.S. currency and $300 million in Canadian currency.
The new credit agreement will also finance the company?s working capital needs.
GE Capital Markets, Inc., GE Capital Markets (Canada) Ltd., Merrill Lynch, Pierce, Fenner & Smith Inc. and UBS Loan Finance LLC served as joint lead arranges and bookrunners in the transaction.
Bloomberg on Wednesday reported that Evraz, which had $7.2 billion in debt at the end of September, is refinancing in an attempt to expand while protecting its credit ratings.
The company earlier this month said it will increase rail production at its plant in Pueblo, Colo., Bloomberg reported.
And in August it announced plans to expand capacity at its steel tube manufacturing plant in Portland to make pipe used in energy exploration.
Formerly Oregon Steel Mills Inc.? , the North American subsidiary of Russian steel giant Evraz Group S.A. relocated its headquarters earlier this year from Portland to Chicago, though it still employs around 400 workers at its North Portland manufacturing op
Russian steel-maker Evraz on Wednesday said its North American subsidiary, formerly based in Portland, may borrow as much as $610 million to refinance its debt.
Evraz North America Inc., which relocated earlier this year from Portland to Chicago, has agreed to a new five-year revolving credit facility that will replace existing credit agreements of $225 million in U.S. currency and $300 million in Canadian currency.
The new credit agreement will also finance the company?s working capital needs.
GE Capital Markets, Inc., GE Capital Markets (Canada) Ltd., Merrill Lynch, Pierce, Fenner & Smith Inc. and UBS Loan Finance LLC served as joint lead arranges and bookrunners in the transaction.
Bloomberg on Wednesday reported that Evraz, which had $7.2 billion in debt at the end of September, is refinancing in an attempt to expand while protecting its credit ratings.
The company earlier this month said it will increase rail production at its plant in Pueblo, Colo., Bloomberg reported.
And in August it announced plans to expand capacity at its steel tube manufacturing plant in Portland to make pipe used in energy exploration.
Formerly Oregon Steel Mills Inc.? , the North American subsidiary of Russian steel giant Evraz Group S.A. relocated its headquarters earlier this year from Portland to Chicago, though it still employs around 400 workers at its North Portland manufacturing operation.
Source: http://feedproxy.google.com/~r/vertical_61/~3/iQuuQt6VduQ/evraz-north-america-opens-650m-credit.html
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