Paladin noteholders set to meet

3rd August 2018 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – The noteholders of dual-listed Paladin Energy are expected to meet on August 21 to vote on the creation of a lien of Paladin Finance in favour of Nedbank in relation to the environmental performance bond obligations for the Kayelekera mine.

The noteholders are also expected to vote on a waiver in connection with the payment of interest to Paladin under the Langer Heinrich revolving credit facility, which if granted, will see the interest of the credit facility capitalise during the period that the Langer Heinrich mine is on care and maintenance, and until it restarts processing operations.

Paladin in July announced its intention to create a lien over a $10-million account of the company’s in favour of Nedbank, to secure indebtedness of up to $10-million in relation to the environmental performance bonding obligations for its Mali mine.