Printer Friendly

Australia : NEWCREST MINING takes on second debt package in space of 4 mths.

After the mining company took on its second debt package in a period of just four months, the gearing ratio of gold miner Newcrest Mining shows little sign of falling.

The company has announced a new three-year loan valued at $US200 million, to provide ''additional liquidity headroom".

The loan, which Newcrest inked with an unnamed bank, comes after the company secured $US450 million worth of debt in October which was also said to offer "additional liquidity headroom"

For a gearing ratio of 29.1 per cent, the gold miner had $4.1 billion worth of debt on June 30.

The new debt package ends in January 2017 and Newcrest said it would be nice having a new bank to work with.

It added : "The new facility provides Newcrest with additional liquidity headroom, expertise and diversity, as well as extending the average debt maturity of its bilateral loan facilities."

2014 Al Bawaba ( Provided by , an company
COPYRIGHT 2014 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Jan 15, 2014
Previous Article:Australia : VALE contract secured by Austin Engineering.
Next Article:Australia : BHP BILLITON appoints TONY CUDMORE as President, Corporate Affairs.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters