The financing package is comprised of three facilities:
• A $60 million facility to refinance the existing drawn debt of $16.3 million and to provide development capital of $43.7 million for Walyering, West Erregulla and general working capital purposes;
• A $53 million facility to support the development of South Erregulla; and
• A $40 million facility to support the development of the West Erregulla Gas Project.
The facility has a 60-month tenor, capitalising interest, and a 6% coupon plus bank bill swap rate. There are no principal repayments until 31 December 2026 after which the drawn principal amortises on a quarterly basis for the remaining term of the loan.
Should The facility read Each facility or The package or specify the particular facility or facilities referenced?
This is pedantic, I know, but until it is clarified, it is impossible to formulate a decent cash flow estimation.
IMO. J L.
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