Anglo Pacific Group PLC Extension of borrowing facility to US$90M + US$30M (2200B)
29 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMAPF
RNS Number : 2200B
Anglo Pacific Group PLC
29 January 2020
News Release
29 January 2020
Anglo Pacific Group PLC
Upsizing and extension of borrowing facility to US$90 million
plus US$30 million accordion
Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (LSE:
APF, TSX: APY) is pleased to announce that it has agreed a US$30m
increase to its Revolving Credit Facility ("RCF"), along with
extending the term by twelve months to September 2022.
The increase brings the total committed RCF to US$90m. This
could increase to US$120m should the accordion feature be
implemented.
The increase reflects the Group's additional borrowing capacity
associated with the significant increase in volumes and revenue
from Kestrel, along with the additional US$75m (GBP62.5m) of income
producing assets acquired in 2019.
Including the US$30m accordion, the Group has access to over
US$75m of liquidity.
Kevin Flynn, Chief Financial Officer of Anglo Pacific,
commented:
"We are pleased to announce another step up to our borrowing
facility and an extension of the term by a further year.
We are appreciative to our lending banks (Barclays, Investec and
Scotia) for the confidence and support they continue to place in
the growth ambitions of the Company.
With over US$75m of liquidity potentially available, we are in a
strong financial position to continue growing and diversifying our
portfolio."
For further information:
Anglo Pacific Group PLC
Julian Treger - Chief Executive Officer
Kevin Flynn - Chief Financial Officer and Company Secretary +44 (0) 20 3435 7400
Website: www.anglopacificgroup.com
Berenberg +44 (0) 20 3207 7800
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Peel Hunt LLP +44 (0) 20 7418 8900
Ross Allister / James Bavister
RBC Capital Markets +44 (0) 20 7653 4000
Farid Dadashev / Marcus Jackson / Jamil Miah
Capital Market Communications Limited (Camarco) +44 (0) 20 3757 4997
Gordon Poole / Owen Roberts / James Crothers
Notes to Editors
About the Company
Anglo Pacific Group PLC is a global natural resources royalty
and streaming company. The Company's strategy is to develop a
leading international diversified royalty and streaming company
with a portfolio centred on base metals and bulk materials,
focusing on accelerating income growth through acquiring royalties
on projects that are currently cash flow generating or are expected
to be within the next 24 months, as well as investment in earlier
stage royalties. It is a continuing policy of the Company to pay a
substantial portion of these royalties to shareholders as
dividends.
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contact rns@lseg.com or visit www.rns.com.
END
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