Trans-Siberian Gold PLC $15 million Debt Re-Financing with VTB Bank (5344I)
2017年6月20日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMTSG
RNS Number : 5344I
Trans-Siberian Gold PLC
20 June 2017
Trans-Siberian Gold plc
("TSG" or the "Company")
$15 million Debt Re-Financing with VTB Bank
Trans-Siberian Gold plc (TSG.L) is pleased to announce that the
Company's wholly owned subsidiary ZAO Trevozhnoye Zarevo ("TZ") has
materially improved the terms of its debt facilities having agreed
terms with VTB Bank.
The new facility will be used to facilitate the repayment of
TZ's existing two loan facilities, currently amounting to $14.8
million, and provide additional funds for working capital and other
corporate purposes.
Highlights & Key Terms:
-- $15 million debt facility
-- 5-year term
-- 6.2% interest rate per annum
-- 18 month capital repayment deferral
-- No royalty or hedging required
-- Reduces cost of debt and maintains flexibility for growth and development
Dmitry Khilov, CEO of TSG, commented:
"We are very pleased to have materially improved the terms of
our debt facilities. I am grateful for the hard work of our finance
team who have successfully negotiated improved terms which reduces
our cost of borrowing. We maintain a low level of gearing and look
forward to working with VTB Bank"
Further Information
TZ has entered into an agreement under which VTB Bank will
provide a $15m facility for a 5 year term, repayable in equal
amounts quarterly with the first repayment effective seven calendar
quarters after initial drawdown.
The agreement contains customary representations and warranties
from TZ to VTB Bank. There are certain financial obligations in the
event of early repayment or breaches of covenants. In the event of
default, the interest rate rises to 13.5% per annum. The debt
facility is secured against the equity and fixed assets of TZ only.
TZ is required to enter into an exclusive gold sales agreement with
VTB Bank.
Ends
Contacts: TSG
+44 (0) 7770
Simon Olsen 484965
+44 (0) 7799
Stewart Dickson 694195
+44 (0) 207
Cantor Fitzgerald Europe 894 7000
David Porter David Foreman Craig
Francis
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 20, 2017 02:00 ET (06:00 GMT)
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