Evraz hammers out amendments to loan covenants

Russia’s largest steelmaker Evraz said on Monday that it had amended the financial covenants of its $950m pre export finance (PXF) facility that is set to mature in 2015.

  • 02 Jul 2012

The firm has also renegotiated the covenants on outstanding bilateral facilities. The amendments come as part of the company’s ongoing treasury management, Evraz said.

Under the new agreements, Evraz’s maximum net leverage ratio has been lifted to 3.5x from 3.0x and the minimum Ebitda to interest expense ratio has ...

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