Leading global law firm Herbert Smith Freehills Kramer has advised Ferrexpo plc on its successful US$100 million equity fundraising, comprising a US$60 million placing and a US$40 million subscription by its largest shareholder, Fevamotinico S.a.r.l. The transaction included a US$50 million cornerstone investment from Ukrainian businessman Andriy Verevskyi and was oversubscribed, reflecting strong investor demand.
Ferrexpo plc is a Swiss-headquartered, London-listed producer and exporter of premium iron ore products with operations in Ukraine. The group has supplied the global steel industry for more than 50 years and produces premium-grade iron ore products that help steelmakers reduce carbon emissions and increase productivity.
Ferrexpo also entered into a US$15 million unsecured loan facility with its largest shareholder, Fevamotinico S.a.r.l. The facility provided immediate liquidity ahead of completion of the fundraising (which occurred on 22 September 2026) to allow the group to restart production operations in Ukraine. The loan facility was settled by way of set-off against Fevamotinico’s subscription in the fundraising.
The net proceeds of the fundraising will be used to strengthen the group’s liquidity position and support the resumption and continuation of operations during a period of ongoing operational and financial constraints.
The Herbert Smith Freehills Kramer team was led by partners Greg Mulley and Shaun Williamson. The wider team included partners John Whiteoak, Kevin Pullen and Susannah Cogman, of counsel Thomas Vaughan, senior associate (Australia) Katerina Jovanovska, senior associates Owen Roberts and Kathryn Boyd, and associate Adriel Amoh. They were supported by the Digital Legal Team, led by manager, Corporate, Hannah Morton and senior solicitor, Corporate, Colm Wolninski.
Partner Greg Mulley commented: “Having acted for Ferrexpo for some time now, and advised on many of the challenges the company has faced over the years, we were delighted to be able to support it on this capital raise, a major milestone for the company.”
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
