Nevada Copper agrees nonbinding terms for new financing
Toronto-listed Nevada Copper said on Tuesday that it was making progress to secure financing before year-end, announcing that it had agreed to nonbinding terms with its senior lender, KfW IPEX-Bank.
The company has agreed to nonbinding terms with KfW for a $15-million senior loan, with a three-year tenor, at an interest rate of Libor plus 4.9%.
The new KfW loan would have a 12-month repayment holiday period. In addition, amortisation and debt service account payments under the company’s existing senior project loan facility with KfW would be deferred until 2023.
The company is also in the process of finalising the specific terms of an additional complementary financing from other lenders, with the aim of securing a combined package of $30-million from KfW and the other lenders.
Shareholder Pala Investments would continue to provide financial support to Nevada Copper until the end of the year, and has provided the company with access to additional liquidity of up to $15-million in the form of a promissory note.
Comments
Press Office
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