Agincourt Resources repays, terminates revolving credit facility
Tuesday, October 29 2013 - 01:32 AM WIB
Hong Kong-listed gold miner G-Resources Group Limited announced that on 25 October 2013, its Indonesian subsidiary PT Agincourt Resources, has voluntarily repaid its outstanding principal of US$37.5 million on its revolving credit facility, more than 8 months before the expiry of the facility. The company has now terminated the facility.
The facility was established in December 2011 with a banking syndicate comprising BNP Paribas, Commonwealth Bank of Australia, Hang Seng Bank Limited and Sumitomo Mitsui Banking Corporation (?the Lenders) for the purposes of supporting the construction of the Martabe Gold Mine.
Following the repayment of the above loan principal and a cc rued interest to the lenders, the company's cash balance is approximately US$190 million, G-Resources said in a statement issued Monday.
The company recognizes and appreciates the support provided by the Lenders and the positive impact they have had on the completion and start-up of its Martabe Gold Mine in North Sumatra.
Editing by Reiner Simanjuntak