Katanga Mining Ltd Ord KATFF

KAT Debts Roll Over

[Sogosohubidu201]

We all know that the debts are due in January 2021. Very likely that the debts will be extended in Q4 next year just like previously the debts were rolled over for 6-7 years as  listed below in the links.  I agree with Patel on this board that Glencore may likely spread out the maturities of different facilities to gradually reduce KAT debts since Glencore already has similiar agreement with gecamine for FCC to pay off its debts of around $500 millions a year.


https://www.katangamining.com/~/media/Files/K/Katanga-mining-v2/media/newsreleases/news2014/pr-14-11-2014.pdf

https://www.katangamining.com/~/media/Files/K/Katanga-mining-v2/media/newsreleases/news2014/pr-03-03-2014.pdf

Financial

• As announced on March 3, 2014, Katanga received a commitment (the "Commitment") from Glencore Finance (Bermuda) Limited, an affiliate of Glencore International AG ("Glencore") to, among other things, extend the maturity of its outstanding loan facilities to January 1, 2018 (the “Amended Facilities”). Glencore has now offered to extend the maturity of the Amended Facilities to January 1, 2021. On November 13, 2014, the board of directors of the Company approved in principle the new maturity date of the Amended Facilities, comprised of the Senior Facility and Term Loan, each as amended. The Commitment and the Amended Facilities remain subject to final documentation being agreed and customary drawdown conditions being satisfied.