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.