Ferrexpo PLC (LON:FXPO) has priced its debut Eurobond issue of US$500 million at par with a 7.875 percent coupon this week.
Settlement date is on April 7 2011 with a maturity of April 7 2016.
London's only listed pure iron ore producer and FTSE 250 constituent said the offering received strong international interest with European, US and Asian investors.
JP Morgan Securities Ltd, Morgan Stanley & Co. International and UBS Investment Bank acted as joint bookrunners.
Chief executive Chris Mawe said: "Ferrexpo is delighted to have successfully placed its debut eurobond issue, which was oversubscribed, at a yield of 7.875 percent. We believe this is the lowest yield achieved by a company with Ukrainian assets since 2005 and reflects the quality of Ferrexpo's iron ore assets and operations. This long term financing is the next step in the development of our growth strategy as a world class iron ore pellet producer."