Ferrexpo secures $15 million loan from its major shareholder

Ferrexpo ($FXPO) agreed a $15 million unsecured, 12-month loan from Fevamotinico at an annual interest rate of 9.75%. The facility will provide liquidity ahead of a previously announced capital raise of approximately $100 million and support resumed production. The loan will count towards part of the shareholder’s subscription for new shares, with separate repayment provisions if the capital raise does not complete.

Sources:

• Ferrexpo — loan facility terms, RNS