Eastern Platinum Limited: US$100 Million Debt Facility Agreement Completed
03 Januar 2012 - 2:30PM
UK Regulatory
TIDMELR
Eastern Platinum Limited: US$100 Million Debt Facility Agreement Completed
FOR: EASTERN PLATINUM LIMITED
TSX, AIM SYMBOL: ELR
JSE SYMBOL: EPS
January 3, 2012
Eastern Platinum Limited: US$100 Million Debt Facility Agreement Completed
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2012) - Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS)
(the "Company" or "Eastplats") is pleased to report that further to its press release of February 1, 2011
announcing the receipt of letters of commitment for a debt facility, it has now signed a definitive agreement
with UniCredit Bank AG, London Branch and Standard Finance (Isle of Man) Limited (a subsidiary of The Standard
Bank of South Africa Limited) for a US$100 million financing package to be used to part fund the development
costs of its Mareesburg Project and the construction costs of the associated concentrator.
Highlights of the key terms of the financing package include:
/T/
=- Scheduled tenor of 5.5 years with an 18 month grace period for principal
repayments
=- Separate term and revolving loan facilities (US$70 million and US$30
million, respectively)
=- Initial interest rate of US LIBOR + 3.85% rising to US LIBOR + 4.15% for
the last 2.5 years of the loan. US one-month LIBOR currently sits at
approximately 0.26%.
=- No required commodity, currency or interest rate hedging
/T/
The term loan and revolving loan can be drawn down upon the satisfaction of agreed conditions precedent which
is expected to occur on or prior to March 31, 2012.
"This financing, combined with our existing cash resources, provide us with substantial flexibility over the
upcoming year as we complete the development of Mareesburg and the construction of the concentrator within the
next twelve months. We thank both UniCredit and Standard Bank for their ongoing support and commitment to
Eastplats and are very pleased to be in such a well-capitalized position for this next stage of our corporate
growth. We expect Mareesburg to be a low-cost operation that will deliver 100,000 PGM ounces per year at full
production," said Ian Rozier, President and CEO of Eastplats.
Total shares issued and outstanding: 928,187,807
Cautionary Statement on Forward-Looking Information
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable
Canadian securities legislation. These forward-looking statements are based on certain assumptions by Eastplats
and therefore, readers are cautioned that forward-looking statements are not a guarantee of future performance.
There can be no assurance that such statements will prove to be accurate and actual results could differ
materially from those expressed or implied in such forward-looking statements due to factors such as general
economic and market conditions, changes in government legislation, controls, regulations and political
developments.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as
a result of new information, future events or otherwise, except to the extent required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eastern Platinum Limited
Investor Relations
+1-(604)-685-6851
+1-(604)-685-6493 (FAX)
info@eastplats.com
www.eastplats.com
OR
NOMAD:
Canaccord Genuity Limited, London
Rob Collins
+44 20 7050 6500
rcollins@canaccordgenuity.com
OR
Canaccord Genuity Limited, London
Bhavesh Patel
+44 20 7050 6500
bpatel@canaccordgenuity.com
OR
JSE SPONSOR:
PSG Capital (Pty) Limited
Johan Fourie
+27 21 887 9602
johanf@psgcapital.com
No stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.
Eastern Platinum Limited
Eastern Plat (LSE:ELR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Eastern Plat (LSE:ELR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Eastern Plat (Londoner Börse): 0 Nachrichtenartikel
Weitere Eastern Plat News-Artikel