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FUNDING OF SENIOR SECURED DEBT FINANCING

15th Aug 2013 07:00

RNS Number : 7534L
Maple Energy plc
15 August 2013
 

15 August 2013

 

 

 

 

 

MAPLE ENERGY PLC

("Maple" or the "Company")

 

FUNDING OF SENIOR SECURED DEBT FINANCING

 

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, is pleased to announce that the disbursement under the senior secured debt financing for its ethanol business (the "New Debt Financing") has occurred.

 

The total amount funded to Maple was US$160 million which was used to pay (1) all of the outstanding obligations, including principal, interest, and prepayment fees of the existing senior secured debt financing with Corporacion Andina de Fomento ("CAF"), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. ("FMO"), Inter-American Development Bank ("BID") , and Banco Internacional del Peru S.A.A. ("Interbank") previously incurred in connection with the development of the Company's ethanol business (the "Project Financing"); (2) pay the transaction expenses and fees associated with the New Debt Financing; and (3) provide additional funds for general corporate purposes.

 

The funds were provided by Bancolombia Puerto Rico Internacional Inc.("Bancolombia"), Corporación Financiera de Desarrollo S.A. ("COFIDE"), Interbank, and Banco Itau BBA S.A., Nassau Branch ("Itau"), . For more information on the terms of the New Debt Financing, please see the Company's release dated 16 July 2013.

 

 

Guillermo Ferreyros, CEO of Maple Energy, commented today:

"We are extremely pleased to announce the disbursement under our New Debt Financing arrangements. The New Debt Financing significantly improves Maple's debt structure and will allow Maple to reduce the financial expenses for the term of its ethanol business senior debt. This new financing with key financial institutions in Latin America is another important milestone in the development of our ethanol business and a further indication of the confidence in Maple's management team and business strategy."

 

 

 

For further information, please contact:

 

Maple Energy plc (+ 51 1 611 4000)

Guillermo Ferreyros, Chief Executive Officer, and Executive Director

 

Cenkos Securities plc (+44 20 7397 8900)

Jon Fitzpatrick

Ken Fleming

 

Buchanan (+44 20 7466 5000) www.buchanan.uk.com

Mark Edwards

Ben Romney

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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