Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Sirius Minerals received a conditional proposal from a major global financial institution

Mining News - Published on Fri, 15 Mar 2019

Image Source: siriusminerals.com
Sirius Minerals Plc announced that it has received a conditional proposal from a major global financial institution in respect of its stage 2 financing. The Company has been pursuing a senior debt financing with a group of prospective lenders since 2016. This was most recently adjusted on 22 January 2019 to focus on a USD 3 billion multi-tranche structure. The Alternative Proposal contains an alternative senior debt structure to completely replace that structure.

The Company believes that the Alternative Proposal potentially offers a more flexible and attractive solution to its stage 2 financing requirements and therefore it is pausing discussions with its existing prospective lenders to pursue the Alternative Proposal. A number of options for the additional non-senior debt financing requirement, as previously outlined in the Company's announcement of 6 September 2018, continue to be progressed.

Source :

Posted By : Rabi Wangkhem on Fri, 15 Mar 2019
Related News from Mining segment