11

Evraz Announces Positive Outcome to Covenant Amendment Request

Date of publication: 12.11.2009

12 November 2009 - Evraz Group S.A. (LSE:EVR) ("Evraz" or the "Company") is pleased to announce that the lenders under its syndicated facilities have approved, by the early bird deadline, the requested amendments to those facilities, which include a reset of the financial covenants.

The amendments relate to the facilities made available under and pursuant to, the US$3,214 million Structured Credit Facility Agreement dated 22 November 2007, the US$225 million Facility Agreement dated 1 June 2006 and the US$200 million Syndicated Term Loan Facility Agreement dated 11 June 2007.

This development is in line with Company’s intention to proactively approach its lenders to address potential financial covenant compliance issues in the future. The approved amendments provide the Company and its subsidiaries with the necessary headroom and flexibility to progress its current strategy.

J.P. Morgan and Lazard & Co., Limited acted on behalf of Evraz as financial advisers, and Skadden, Arps, Slate, Meagher & Flom (UK) LLP acted as legal advisers to Evraz, in relation to the amendment process.

###

For further information

Media contact:
Alex Agoureev
VP, Public Relations
+7 985 122 4822
media@evraz.com

Investor contact:
Alexander Boreyko
Director, Investor Relations
+7 495 232 1370
ir@evraz.com


Back to the list