bloomberg announcement

Aug. 29 (Bloomberg) -- Lenders to copper miner Discovery
Metals are considering recapitalization proposals from potential
buyers that will restructure the company’s debt as part of the
acquisition process, according to three people familiar with the
situation.
• Lenders Credit Suisse, Standard Chartered, Standard Bank and Caterpillar Finance have received at least one proposal from South-African private equity group Cupric Canyon, said the people, who asked not to be identified because the details are private
• Discovery Metals co. secretary Gregory Seeto didn’t immediately return two calls seeking comment
• E-mails to Cupric Canyon and its owner Barclays Natural Resource Investments weren’t immediately returned
• Note: Co. had $153.9m of interest-bearing debt and had $21.2m cash as of June 30, according to a July 15 stock exchange filing: NSN MPYQX73PWT1C
• Note: Co. has set Aug. 31 deadline to recommend an offer from potential buyers or agree terms with a cornerstone investor that are satisfactory to the lenders