https://www.engineeringnews.co.za

Base repays Kwale project debt

1st October 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Mineral sands miner Base Resources will retire its $215-million project debt facility on October 9, following the delivery of an irrevocable notice of prepayment.

The early retirement of the debt will be repaid from a combination of cash reserves and the use of an existing revolving credit facility, following the increase of the credit facility from $30-million to $75-million.

At the end of June, the project debt facility had an outstanding balance of $80-million, and following the repayment of the project debt, the outstanding balance of the revolving credit facility will be around $49-million, with the group’s net debt being around $33-million.

Base told shareholders on Monday that the early retirement of the project debt facility demonstrated the continued strong performance of the Kwale operations, and along with the increased revolving credit facility, provided the group with additional funding flexibility and reduced debt servicing costs.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.048 0.158s - 140pq - 2rq
Subscribe Now