DJ OZ Minerals Refinancing Extension Held Up By One Lender28/11/2008 03:32PM AEST MELBOURNE (Dow Jones)--OZ Minerals Ltd. (OZL.AU) said Friday that an extension of the deadline for the refinancing of US$560 million of its debt has been held up by one bank in a syndicate of lenders.
The company went into a trading halt Friday as it continued negotiations for an extension of the deadline for the refinancing, which is this Sunday.
"Up until very late last night we were quite confident that we could secure the extension from the panel until one of the banks, whilst accepting the extension, put caveats on that which from our perspective were unworkable," an OZ Minerals spokesman told Dow Jones Newswires.
OZ Minerals said it is focused on concluding the negotiations on the extension, which converts project financing facilities into one corporate facility
OZL Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
