Kenmare upsizes revolving credit facility by $30m
London-listed Kenmare Resources has announced that its revolving credit facility (RCF) has been increased by $30-million to $230-million.
Covenants relating to net debt to earnings before interest, taxes, depreciation and amortisation (Ebitda) and interest coverage ratio have also been waived for 2026 testing dates.
Kenmare explains that the increased RCF provides additional financial flexibility during a period of weak market conditions.
The company notes that the increased facility will be subject to a phased reduction, requiring repayment or prepayment of loans as necessary.
“The $30-million upsizing of our RCF and the covenant amendments provide important additional financial flexibility for Kenmare as we navigate a period of market weakness, giving us the confidence to make selective investments in plant and machinery and further develop the markets for our products.
“We appreciate the continuing support we have received from our lender group, who have worked with the company for many years and who recognise the quality, scale and future potential of the Moma Mine,” says CFO James McCullough.
The additional $30-million of commitments have been provided by members of Kenmare’s existing bank syndicate, which includes Absa Bank, Nedbank, FirstRand Bank – acting through its Rand Merchant Bank (RMB) division – and Standard Bank Group.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Latest Multimedia
Latest News
Showroom
Occupational health services, mobile clinics, wellness campaigns, aviation.
VISIT SHOWROOM
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
