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Arrium refinances debt

16th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Iron-ore miner Arrium Mining and Materials has refinanced its $725-million syndicated facilities that were due to mature in the second half of 2015.

The ASX-listed miner said on Monday that the refinancing included domestic and overseas lenders, and had been scaled back after being substantially oversubscribed.

“The refinancing was again very well supported by our core lenders and is a refection of their continued confidence in Arrium,” said CFO Robert Bakewell.

The refinancing had maturities of four and five years, and would not change the average interest rate for the company’s total drawn and undrawn debt facilities, which is currently around 4%.

Arrium noted that the next significant debt maturity did not arise until the second half of 2016.

Edited by Creamer Media Reporter

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