Northam Platinum has concluded and implemented an agreement to restructure its existing banking facilities.
The restructuring means that the company’s R2.45 billion term loan facility has been fully settled and cancelled, while the existing R7.16 billion five-year revolving credit facility (RCF) rose by R2.85 billion to R10 billion.
Northam’s total available banking facilities are now R11 billion, comprising the increased RCF of R10 billion and existing general banking facilities of R1 billion.
“Consequently, the restructure has both increased Northam’s available banking facilities and removed the early staggered maturity profile, thereby enhancing the group’s liquidity and financial flexibility until August 2027,” it said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
