Nyrstar successfully completes re-financing of Structured Commodity Trade Finance Facility

Nyrstar today announced that it has successfully completed the refinancing of its multi-currency Structured Commodity Trade Finance Facility.

The new EUR 400 million facility includes an accordion to increase its size to EUR 750 million on a pre-approved but uncommitted basis.  The syndication for the new facility was considerably over-subscribed, and following the scaling back of allocations was closed with the targeted limit of EUR 400 million.

The new facility has a maturity of 4 years (with a run-off period during the fourth year). As with the previous facility, the amount that Nyrstar may draw-down under the new facility is determined by reference to the value of Nyrstar's inventories and receivables (the borrowing base) and accordingly adjusts as commodity prices change. The new facility has a margin of 1.85% above EURIBOR, leveraging on the strength of the secured borrowing base and the underlying exchange traded commodity.

The participating banks in the new facility are:

• Deutsche Bank AG as Coordinating Mandated Lead Arranger and Sole Bookrunner; and
• ABN AMRO Bank N.V., BNP PARIBAS FORTIS, Goldman Sachs Bank USA, KBC Bank NV, RBC Capital Markets, Societe Generale Corporate and Investment Banking and UBS AG as Mandated Lead Arrangers; and
• Bank of America Merrill Lynch, Scotiabank, Barclays Bank PLC, Credit Suisse AG, HSBC Trinkaus & Burkhardt AG, J.P. Morgan Limited, NATIXIS, The Royal Bank of Scotland plc Belgium Branch, Westpac Banking Corporation andZürcher Kantonalbank as Lead Arrangers.

Commenting on the new facility, Heinz Eigner, Chief Financial Officer of Nyrstar, stated:

"The Structured Commodity Trade Finance Facility has demonstrated that is well suited to our smelting business as it adjusts to changing working capital requirements and will continue to be a cornerstone for our long-term financing needs. It was very pleasing to see the strong demand for participation in the facility, confirming the on-going support from financial markets to Nyrstar to continue to deliver its internal and external growth strategy."

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