Sibanye-Stillwater CEO Neal Froneman
Photo by: Creamer Media
JOHANNESBURG (miningweekly.com) – Precious metals miner Sibanye-Stillwater has refinanced its existing $350-million US dollar revolving credit facility (RCF) on improved terms.
The refinanced RCF has also been increased to $600-million, thereby providing enhanced liquidity for the enlarged group.
Further, under the terms of the facility agreement with a syndicate of international banks, led by Bank of America Merrill Lynch International and HSBC Bank, Sibanye has the option to further increase the size of the RCF to $750-million through the inclusion of additional lenders.
The RCF maturity is three years and lenders have the option to extend the tenor through two further one-year extensions on request from Sibanye.
“We are delighted with the continued support from our banking group with the improved terms, increased facility size and maturity extension of our RCF,” Sibanye CEO Neal Froneman said on Friday.