Kingsate Consolidated executes US$100 million syndicated loan facility
Kingsgate Consolidated Ltd today announced that its Thai subsidiary, Akara Mining Ltd, executed a US$100 million syndicated loan facility, completing its funding requirements for the expansion of its Chatree Mine.
The loan has been facilitated by CIMB Thai Bank Public Company, the Bangkok branch of Sumitomo Mitsui Banking Corporation and Investec Bank.
BBY’s International Partner CIMB led the arrangements as the largest participant, providing US$42 million. CIMB are also acting as Facility and Security Agents.
Kingsgate Chairman, Ross Smyth-Kirk commented that “the continued support of Investec and of our new Thai lenders demonstrates their strong confidence in the future of the Chatree Mine.”