London, England (FSCwire) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company", the "Group") (LSE: APF) (TSX: APY) is pleased to announce that it has completed a refinancing and upsizing of its borrowing facility with Barclays and Investec.

 

As part of this refinancing, we are delighted to welcome Scotia Bank, a prominent lender to the mining sector, into the syndicate alongside our exiting lenders.

 

The key terms of the refinancing are as follows:

 

•   US$60m revolving credit facility - double the availability of the previous US$30m facility

 

•   US$30m accordion which can be requested for certain acquisitions

 

•   Facility provided equally by Barclays (agent), Investec and Scotia Bank

 

•   Three-year term, with the option to request a twelve-month extension after 18 months

 

•   Margin of LIBOR + 275bps at less than one times leverage (current and envisaged level)

 

•   Facility reduces to US$40m in the final twelve months

 

•   No dividend restrictions

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

 

http://www.rns-pdf.londonstockexchange.com/rns/6171B_1-2018-9-21.pdf

 

For further information:

 

Anglo Pacific Group PLC Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer and Company Secretary	+44 (0) 20 3435 7400
Website:	www.anglopacificgroup.com
BMO Capital Markets Limited	+44 (0) 20 7664 8020
Jeffrey Couch / Tom Rider
Canaccord Genuity Limited	+44 (0) 20 7523 8000
Martin Davison / James Asensio
Peel Hunt LLP	+44 (0) 20 7418 8900
Ross Allister / James Bavister / David McKeown
Capital Market Communications Limited (Camarco)	+44 (0) 20 3757 4997
Gordon Poole / Owen Roberts / James Crothers

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

To view the associated document to this release, please click on the following link:
public://news_release_pdf/AngloPR09242018.pdf

To view the original release, please click here

Source: Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC Bulletin Board:AGPIF, FWB:HGR)

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