P49 Qtly "During the Quarter CuDeco accepted a formal offer for funding through a Credit Facility of $US100 Million
(Approx $AUD105 Million)".
So the offer has been officially accepted!
The timing for the official documentation is critical as the agreement has a 12 mth period for drawdown of the facility post official finalisation of the documents.........again P49
"The key terms of the facility are as follows:-
a. Loan facility of up to $US 100million;
b. Interest payable at a rate of 7% p.a.;
c. Facility available to be drawdown within 12 months of the final documentation being finalised; and
d. Repayment of the facility to be made progressively between 18 months to 30 Months from the date
the facility is first drawn down."
So I see no issues at all! The $100m is there any time Cudeco needs it, Could not be better.
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