Kenmare Resources Says Absa Extends $20 Mln Loan Facility To March 31, 2015

(RTTNews) - Mining and exploration company Kenmare Resources plc (KMR.L) today announced regarding the corporate loan facility extension.

In its announcements made on October 10, 2013, Kenmare intended to apply part of the placing proceeds against a $40 million corporate loan facility from Absa Bank Ltd., a member of Barclays (BARC.L, BCS), and that it was in talks with Absa on an extension of $20 million of this loan facility to March 2015.

As a consequence of an amendment to the loan facility effective today, Absa has extended $20 million of the facility to March 31, 2015. The company said $20 million was repaid in November, as planned. The amended $20 million facility permits for amounts drawn under it to be repaid and redrawn prior to the maturity date, Kenmare added.