The refinancing consisted of structuring three separate debt facilities, a senior term loan facility, an equipment finance facility and revolving credit facility.
Herbert Smith Freehills has acted for Sierra Rutile Limited on its successful refinancing of its debt facilities with Nedbank Corporate and Investment Bank, a division of Nedbank Limited.
Sierra Rutile Limited, an AIM-listed BVI company, is a mineral sands company and operates assets in the Republic of Sierra Leone which centre on the world-class natural rutile deposit in the southwest of the country. The deposit is one of the largest natural rutile deposits in the world.
The refinancing consisted of structuring three separate debt facilities, a senior term loan facility, an equipment finance facility and revolving credit facility, aggregating US$85 million (about $115 million).
The three facilities reached financial close on 15 November 2016 and are secured by a combination of asset level and share security. The facilities will support Sierra Rutile's stated development plans.
The HSF team assisted Sierra Rutile Limited on all aspects of the refinancing. The team was led by Johannesburg partner Brigette Baillie, supported by London associates Prasan Dhar and Hyunsoo Kim.
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Sierra Rutile Limited, an AIM-listed BVI company, is a mineral sands company and operates assets in the Republic of Sierra Leone which centre on the world-class natural rutile deposit in the southwest of the country. The deposit is one of the largest natural rutile deposits in the world.
The refinancing consisted of structuring three separate debt facilities, a senior term loan facility, an equipment finance facility and revolving credit facility, aggregating US$85 million (about $115 million).
The three facilities reached financial close on 15 November 2016 and are secured by a combination of asset level and share security. The facilities will support Sierra Rutile's stated development plans.
The HSF team assisted Sierra Rutile Limited on all aspects of the refinancing. The team was led by Johannesburg partner Brigette Baillie, supported by London associates Prasan Dhar and Hyunsoo Kim.
Related stories:
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