14th Aug 2015 15:42
KAZ MINERALS PLC 6TH FLOOR CARDINAL PLACE 100 VICTORIA STREET LONDON SW1E 5JL Tel: +44 (0) 20 7901 7800
|
14 August 2015
NEW REVOLVING CREDIT FACILITY
KAZ Minerals PLC ("KAZ Minerals" or "the Group") announces the signing of a new $50 million revolving credit facility ("RCF") with Caterpillar Financial Services (UK) Limited ("Cat Financial"), a subsidiary of Caterpillar Inc.. Caterpillar Inc. is a major supplier of mining equipment to the Group's Bozshakol and Aktogay projects.
The RCF is available for drawing for three years from the date of signing, following which the facility is repayable in four equal quarterly instalments. An interest rate of USD LIBOR plus 4.25% is payable on amounts outstanding under the RCF. The financial covenants on the RCF are identical to those applicable to the Group's existing pre-export finance facility.
Andrew Southam, Chief Financial Officer, said: "This new facility with Cat Financial provides KAZ Minerals with additional liquidity during the construction and ramp-up of our major growth projects and broadens the Group's debt portfolio."
For further information please contact:
KAZ Minerals PLC | |||
Chris Bucknall | Investor Relations, London | Tel: +44 20 7901 7882 | |
Irene Burton | Financial Analyst, London | Tel: +44 20 7901 7814 | |
Maksut Zhapabayev | Corporate Communications, Almaty | Tel: +7 727 244 03 53 | |
Instinctif Partners | |||
David Simonson | Tel: +44 20 7457 2020 | ||
Anca Spiridon | Tel: +44 20 7457 2020 | ||
Hill & Knowlton Hong Kong | |||
K W Lam | Tel: +852 2894 6321 | ||
REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL, United Kingdom.
NOTES TO EDITORS
KAZ Minerals PLC ("KAZ Minerals" or "the Group") is a high growth copper company focused on large scale, low cost, open pit mining in Kazakhstan. It is a leading copper producer in Kazakhstan with five operating mines and four concentrators. In 2014, total copper cathode output from continuing operations was 84 kt. The Group's continuing operations also produced 121 kt of zinc in concentrate, 3,435 koz of silver and 35 koz of gold in 2014.
The Group has two major copper projects under construction, Bozshakol and Aktogay, and a third, Koksay, at scoping stage. These projects are expected to deliver one of the highest growth rates in the industry and transform KAZ Minerals into a company dominated by world class open pit copper mines.
KAZ Minerals PLC is listed on the London Stock Exchange, the Kazakhstan Stock Exchange and the Hong Kong Stock Exchange and employs around 10,000 people, principally in Kazakhstan.
Related Shares:
KAZ.L