Trans-Siberian Gold PLC Additional $5m Debt Facility with VTB Bank (8125I)
2017年6月22日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMTSG
RNS Number : 8125I
Trans-Siberian Gold PLC
22 June 2017
Trans-Siberian Gold plc
("TSG" or the "Company")
Additional $5m Debt Facility 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
entered into an agreement with VTB Bank for an additional $5
million debt facility.
As with the $15 million re-financing which was announced on 20
June 2017, the terms of this new facility represent a material
improvement on the terms of TZ's previous borrowing. The interest
rate per annum has been reduced by approximately 30%.
Highlights & Key Terms:
-- $5 million debt facility
-- 3-year term
-- 6.2% interest rate per annum
Dmitry Khilov, CEO of TSG, commented:
"We are very pleased to have secured an additional $5 million
loan facility with VTB Bank. We have reduced the cost of debt which
helps us to maintain flexibility for growth and development".
Further Information
The facility amounting to $5m is for a 3 year term, payable on
the loan expiry date.
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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