Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility
PERTH, Australia, Feb. 5, 2013 /CNW/ - Mirabela Nickel Limited
("Mirabela" or the "Company") (ASX: MBN, TSX: MNB) is pleased to
announce that it has successfully negotiated revised repayment terms on
its US$50 million debt facility with Banco Bradesco S.A. ("Bradesco").
The revised repayment terms are:
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January 2014
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US$ 16.7 million
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July 2014
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US$ 16.7 million
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December 2014
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US$ 16.6 million
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Interest remains payable bi‐annually at a rate of LIBOR plus 6%. The
loan is unsubordinated and secured by a Guarantee from Mirabela Nickel
Ltd and a fiduciary assignment on the Votorantim receivables. These
terms are unchanged.
During January 2012, the Company's Brazilian subsidiary, Mirabela
Mineração Ltda, entered into the US$50 million, 35 month working
capital facility with Bradesco. The principal was originally repayable
in instalments split 50% in month 12, and the remainder in equal
instalments in months 24, 30 and 35.
SOURCE: Mirabela Nickel Ltd.
Chris Els
Chief Financial Officer & Company Secretary
Telephone: +61 439 930 333
shanik@mirabela.com.au
John Stamopoulos
General Manager Commercial
Telephone: +61 406 424 916
shanik@mirabela.com.au