Aug 3 (Reuters) - Range Resources Ltd (RRS)
- Has received notification from landocean that it entered into short-term factoring arrangement with huayuan commercial factoring & sichuan xw bank co
- Landocean has provided range with guarantee and indemnity to ensure that range does not have to pay any party (either landocean or factor)
- Factoring arrangement has maturity date of 30 April 2018
- Factoring arrangement maturity date results in mismatch between maturity date by when landocean require to repay factor & due date for payment by range of amounts due
- Landocean further indemnifies range to ensure that range is only liable to pay no later than april 2020
