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Northam secures R400m loan, amends existing R1bn credit facility

Northam secures R400m loan, amends existing R1bn credit facility

Photo by Bloomberg

12th December 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Northam has secured a new R400-million short-term revolving credit facility (STRCF) and has made amendments to its existing R1-billion revolving credit facility (RCF), it reported on Thursday.

In parallel with the implementation of the STRCF, Northam had secured a complete special covenant holiday in respect of all existing debt covenants applicable to the current R1-billion RCF that pertained to its earnings over the coming three fiscal years.

The covenant holiday also applied to the R400-million STRCF.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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