OREANDA-NEWS. November 12, 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 USD 3,214 million Structured Credit Facility Agreement dated 22 November 2007, the USD 225 million Facility Agreement dated 1 June 2006 and the USD 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.