Brief: Sibanye Stillwater Says Early Settles Long-Term Streaming Facility At Marikana For $50 Mln In Cash

Eastern Platinum

04/03/2020 07:37

March 4 (Reuters) - Eastern Platinum Ltd  ELR.TO :
    * EARLY SETTLES, A LONG-TERM STREAMING FACILITY AT MARIKANA,
WITH
CURRENT PRESENT VALUE OF US$81 MILLION, FOR US$50 MILLION IN
CASH
    * SETTLEMENT WILL BE FUNDED THROUGH NEW SHORT-TERM PLATINUM
PREPAY
FACILITY, ENTERED INTO WITH MERRILL LYNCH INTERNATIONAL
    * DEAL TO EXTINGUISH HIGH COST, SECURED, LONG-TERM FINANCING
INSTRUMENT, REPLACE IT WITH LOWER COST, UNSECURED, SHORT-TERM
FACILITY
    * UNITS ENTERED INTO RELEASE AGREEMENT WITH RFW LONMIN
INVESTMENTS
OF PRIOR STREAMING AGREEMENT ON MORE FAVOURABLE TERMS UNITS 

Source text for Eikon:  ID:nJseD0021a 
Further company coverage:  ELR.TO 

 ((Reuters.Briefs@thomsonreuters.com;))