9th Oct 2013 08:38
LONDON (Alliance News) - Anglo Asian Mining PLC Wednesday said it has entered into a loan facility agreement for USD37 million.
The AIM-listed gold producer in Azerbaijan said the deal with Amsterdam Trade Bank N.V. would be be drawn down in its entirety immediately and be used towards debt refinancing.
The company said it has incurred a certain amount of bank interest from the International Bank of Azerbaijan, after using cash to construct an agitation leaching plant at its flagship mine in the country and would pay down the amount at a reduced interest rate due to the deal.
Anglo Asian Mining shares were up 1.6% to 31.00 pence in early trading Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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