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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best properties for sale near ski slopes
The best properties for sale near ski slopes – from a luxury cabin in Geilo, one of Norway’s premier ski resorts, to a large chalet in Valais, Switzerland
By Natasha Langan Published
-
Cash hoarders take total UK savings to £2 trillion – why aren’t we investing?
Investment-shy Brits are hoarding huge amounts of cash in their savings accounts. We look at the case for saving versus investing.
By Katie Williams Published