EVRAZ plc (LSE: EVR) announces the closing of a USD610 million five-year committed revolving credit facility for its US and Canadian wholly-owned subsidiaries ("Evraz NA"). The facility is an asset-based revolving credit line secured with the inventories and receivables of Evraz NA.

The funds will be used to re-finance the existing USD225 million and CAD300 million facilities, as well as for financing Evraz NA's working capital requirements and for other corporate purposes. Amounts drawn under the new facility will bear interest at floating rates with margins varying between 1.50% to 2.00% over LIBOR depending on the utilisation level, compared to between 3.25% and 4.25% on the refinanced facilities.

GE Capital Markets, Inc., GE Capital Markets (Canada) Ltd., Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Loan Finance LLC acted as Joint Lead Arrangers and Joint Bookrunners for the transaction.

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