China Nonferrous Gold Financial Update
July 01 2016 - 3:53AM
UK Regulatory
TIDMCNG
1 July 2016
China Nonferrous Gold Limited ??????????
("CNG" or the "Company")
Financial Update
China Nonferrous Gold Limited ?????????? (AIM: CNG), the mineral
exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to provide the
following financial update.
Banking Facility from China Construction Bank Corporation Macau
Branch
The Company has signed an agreement with China Construction Bank
Corporation Macau Branch for a loan facility of up to USD$100
million ("CCBC Loan"). The facility will be secured by a standby
letter of credit ("SBLC") from China Construction Bank Corporation
Beijing Branch, for the aggregate amount of USD$103 million, which
expires in 60 months from the date of first drawdown. An SBLC fee
of 0.865% is payable per annum. The CCBC Loan is expected to be
drawn down shortly and will be used to refinance the Company's 2012
loan with CNMIM, under which approximately $81.2 million is
currently drawn, and for working capital.
The CCBC Loan facility is for a maximum of five years and
repayable 60 months from first drawdown. The terms of the CCBC Loan
includes an annual interest rate at 2.1% plus 3 month LIBOR and is
governed by the law of Macau.
For further information please visit the Company's website
(www.cnfgold.com) or contact:
China Nonferrous Gold LimitedDavid Tang, Managing DirectorTel:
+86 10 8442 6681
Investec Bank PlcJeremy Ellis, George PriceTel: +44 (0)20 7597
5970
Beaufort Securities LimitedJon BellissTel: +44 (0)20 7382
8300
BlytheweighTim Blythe, Camilla HorsfallTel: +44 (0)20 7138
3224
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160701005218/en/
This information is provided by Business Wire
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