19th Dec 2012 13:00
REGULATORY RELEASE
19 December 2012
Lonmin Plc - Update on Amended Bank Debt Facilities
Lonmin is pleased to announce that following the successful completion of its Rights Issue, Lonmin's amended ZAR bank debt facilities of R1.98 billion became effective on 13 December 2012. Lonmin has used part of the proceeds from the Rights Issue to repay in full its existing $700 million USD bank debt facilities and cancelled the $300 million term loan under these facilities, leaving $400 million in revolving credit facilities available to Lonmin to draw on when required. The amended $400 million USD revolving credit facilities became effective on 19 December 2012.
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ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +27 11 218 8300 / +44 20 7201 6007 |
Media:
Cardew Group
James Clark / Emma Crawshaw | +44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg
Cecilia de Almeida | +27 11 502 7400 / +27 83 325 9169 |
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
Related Shares:
Lonmin