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Sentula secures R141m in additional funding

19th March 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Lender SBSA Consortium has agreed to refinance Sentula Mining’s senior debt facility in the amount of R141-million in separate tranches, the diversified mining company said on Thursday.

Tranche A would entail the payment of R70-million, which would be payable in five consecutive instalments of R21-million by March 31, R10.5-million by June 30, R7-million by September 30, R7-million by December 31 and R24.5-million by March 2 next year.

A further R50-million, constituting the B Tranche, and R21-million, constituting Tranche C, would also be payable by March 2 next year.

Sentula further advised shareholders that R10-million, which had been received from Roan Coal as part of the purchase consideration for Benicon Mining, had been used to reduce Sentula’s outstanding debt facility to R131-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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