Paladin Energy Secures Loan to Fund Operations & Refinance Credit Facility

摘要

Administrators for Perth-based Paladin Energy have secured a new financing facility with Deutsche Bank's London branch, which will fund operations at the miner's Langer Heinrich Uranium Mine and refinance the Nedbank revolving credit facility, the company said on July 21. Under the agreements, Deutsche Bank will acquire the existing Nedbank Revolving Credit Facility and increase the size of the facility from US$20 million to $60 million. Langer Heinrich Uranium (Pty) Ltd. may draw down up to $45 million for its working capital (including the $20 million already drawn) and Paladin Finance and Paladin Energy may draw down up to $15 million. The entire facility, which has 12-month term, is guaranteed by Paladin, Paladin Finance, and Paladin Energy.