PERTH (miningweekly.com) – ASX-listed Arrium on Thursday announced that it had refinanced some $200-million of debt facilities due in 2017.
Arrium CFO Robert Bakewell said that the company had around A$1.3-billion of available committed undrawn facilities at the end of December, with the company previously indicating that it would assess its future facility requirements.
Bakewell said that it was decided that some A$170-million of syndicated facilities, due to mature in 2017, would be retired as part of the refinancing.
The refinanced facilities have a tenor of four years and included domestic and overseas lenders. The average interest rate for the total drawn and undrawn funding was expected to remain at around 4%.
“We are pleased with the outcome of this refinancing. We have a diversified earnings structure and this, in particular, underpinned support from our lenders,” Bakewell said.