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Newcrest denies capital raising talks

Newcrest denies capital raising talks

Photo by Bloomberg

13th February 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Australian gold major Newcrest Mining has denied media speculation that it was looking to raise capital.

“In the current operating and market conditions, the company advises that it has no present intention to undertake an equity raising,” Newcrest told shareholders.

In January, Newcrest signed a new three-year, $200-million bilateral bank loan facility, which the company said was in line with its existing loan facilities.

The new facility would provide the gold miner with additional liquidity and diversity, as well as extend the average debt maturity of its bilateral loan facilities.

In October, the miner also secured $450-million in bilateral loan facilities from two banks.

Edited by Creamer Media Reporter

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