Northam Platinum has increased its available bank funding facilities by R1.0 billion, from R4.0 billion to R5.0 billion.
The JSE-listed company said this comprises a R500 million increase in the existing revolving credit facility (RCF) from R3.5 billion to R4.0 billion, and a R500 million increase in the existing general banking facility (GBF) from R500 million to R1.0 billion.
The interest rates on both the RCF and the GBF remain unchanged.
“Whilst the RCF and GBF are currently fully undrawn, Northam has reviewed and increased its credit facilities to ensure these remain in step with the significant increase in the Company’s scope of operations,” said company chief executive Paul Dunne.
“Northam is pleased to have secured additional facilities on the same commercial terms”.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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