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From: Nigel
ArtDate: 22nd December 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.94.174
Date: 06/01/07
Time: 15:45
22nd December 2006
Blue Ridge Obtains Committed Project Debt
News Item - Conduit PR
Committed Term-sheet signed for R610m (US$87m) project debt Banking Consortium of four leading South African Banks Project development to commence in January 2007 First PGM production third quarter 2008 Ridge Mining plc, the AIM quoted platinum group metals (“PGM”) developer, announces that a consortium of South African banks has agreed to provide loan finance of R610m (US$86m) for the Blue Ridge PGM mine.
The debt package comprises senior debt of R400m (US$57m), repayable over six years from first production, mezzanine debt of R120m (US$17m), repayable over 10 years from first production and a cost overrun facility of R90m (US$13m). The debt is being jointly arranged by the Development Bank of Southern Africa Ltd, the Standard Bank of South Africa Ltd, Investec Bank Ltd and Industrial Development Corporation Ltd.
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
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