Northam secures a further R1bn of funding facilities
JSE-listed Northam Platinum has increased its available bank funding facilities by R1-billion, from R4-billion to R5-billion.
The increase comprises a R500-million increase in an existing revolving credit facility (RCF) from R3.5-billion to R4-billion, and a R500-million increase in an existing general banking facility (GBF) from R500-million to R1-billion.
The interest rates on both the RCF and the GBF remain unchanged.
While the RCF and the GBF are currently fully undrawn, Northam has reviewed and increased its credit facilities to ensure these remain in step with the significant increase in the company’s scope of operations.
"Northam is pleased to have secured additional facilities on the same commercial terms,” CE Paul Dunne says.
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