Kaz Minerals ups size of loan facility to $1bn

Tue, 28th Jan 2020

Kaz Minerals said it had upped the size of a pre-export finance loan facility to $1bn, while extending its tenor and a reducing its margin pricing. The move represented a net increase of $700m above the $300m outstanding under the existing facility. Its maturity date had been extended by 3.5 years, from June 2021 until December 2024. It also came with a reduced interest margin set initially at 2.50% above US dollar Libor, previously set at 3.00% under the existing facility. The margin was variable during the life of the facility ranging between 2.25% and 3.50% above US dollar Libor, depending on the ratio of net debt to EBITDA, to be tested semi-annually. At 1:11pm: (LON:KAZ) Kaz Minerals PLC share price was +1.85p at 447.85p Story provided by StockMarketWire.com

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