Lonmin: 400m dollars of credit facilities now 'effective'

Platinum producer Lonmin has published an update on its amended bank debt facilities.

Platinum producer Lonmin has published an update on its amended bank debt facilities.

The group reported that following the completion of its Rights Issue, Lonmin's amended ZAR bank debt facilities of R1.98bn became effective on December 13 2012.

Lonmin has used part of the proceeds from the Rights Issue to repay in full its existing $700m bank debt facilities and cancelled the $300m term loan under these facilities. This has left $400m in revolving credit facilities available to Lonmin to draw on when and as required.

The amended $400m revolving credit facilities became effective on December 19 2012.

Lonmin's share price was down 0.88% to 294.40p at 13:17 on Wednesday afternoon.

MF

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021