Anglo Pacific Group PLC: Refinance and Upsize of Borrowing Facility
London, England (FSCwire) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company", the "Group") (LSE: APF) (TSX: APY) is pleased to announce that it has completed a refinancing and upsizing of its borrowing facility with Barclays and Investec.
As part of this refinancing, we are delighted to welcome Scotia Bank, a prominent lender to the mining sector, into the syndicate alongside our exiting lenders.
The key terms of the refinancing are as follows:
- US$60m revolving credit facility - double the availability of the previous US$30m facility
- US$30m accordion which can be requested for certain acquisitions
- Facility provided equally by Barclays (agent), Investec and Scotia Bank
- Three-year term, with the option to request a twelve-month extension after 18 months
- Margin of LIBOR + 275bps at less than one times leverage (current and envisaged level)
- Facility reduces to US$40m in the final twelve months
- No dividend restrictions
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/6171B_1-2018-9-21.pdf
For further information:
| Anglo Pacific Group PLC Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer and Company Secretary | +44 (0) 20 3435 7400 |
| Website: | www.anglopacificgroup.com |
| BMO Capital Markets Limited | +44 (0) 20 7664 8020 |
| Jeffrey Couch / Tom Rider | |
| Canaccord Genuity Limited | +44 (0) 20 7523 8000 |
| Martin Davison / James Asensio | |
| Peel Hunt LLP | +44 (0) 20 7418 8900 |
| Ross Allister / James Bavister / David McKeown | |
| Capital Market Communications Limited (Camarco) | +44 (0) 20 3757 4997 |
| Gordon Poole / Owen Roberts / James Crothers |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
To view the associated document to this release, please click on the following link:
public://news_release_pdf/AngloPR09242018.pdf
To view the original release, please click here
Source: Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC Bulletin Board:AGPIF, FWB:HGR)
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