OTCPK:KATFF - Post by User
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Sogosohubidu201on Feb 13, 2020 2:50pm
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Post# 30687362
The remaining $1.5 billion debt due January 1, 2023
The remaining $1.5 billion debt due January 1, 2023(Upon closing of the Rights Offering, the Glencore Loan Facilities (refer to item 9) were merged into a single $1.75 billion facility consisting of the remaining approximately $1.5 billion of Glencore Debt not repaid under the Rights Offering and undrawn committed liquidity of approximately $250 million, which Glencore provided under a subsequent facility agreement. The subsequent facility matures on January 1, 2023, and bears interest at a rate of 7% per annum. The interest will be capitalized to the extent the Company has insufficient cash to pay it when due.)
The remaining $1.5 billion debt will likely be paid off before it is due January 1, 2023. The reason that Glenecore had extended the remaining debt from January 1, 2021 to January 1, 2023 may be that Glencore may not want to take Katanga private before January 2023. However, Glencore can always change its mind.