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$50 million debt facility with Banco Bradesco S.A. ("Bradesco").
The revised repayment terms are:
| January 2014 | US$ 16.7 million | |||
| July 2014 | US$ 16.7 million | |||
| December 2014 | US$ 16.6 million |
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