Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility

PERTH, Australia, Feb. 5, 2013 /CNW/ - Mirabela Nickel Limited ("Mirabela" or the "Company") (ASX: MBN, TSX: MNB) is pleased to announce that it has successfully negotiated revised repayment terms on its US$50 million debt facility with Banco Bradesco S.A. ("Bradesco").

The revised repayment terms are:

January 2014        US$ 16.7 million
July 2014         US$ 16.7 million
December 2014        US$ 16.6 million

Interest remains payable bi‐annually at a rate of LIBOR plus 6%. The loan is unsubordinated and secured by a Guarantee from Mirabela Nickel Ltd and a fiduciary assignment on the Votorantim receivables.  These terms are unchanged.

During January 2012, the Company's Brazilian subsidiary, Mirabela Mineração Ltda, entered into the US$50 million, 35 month working capital facility with Bradesco. The principal was originally repayable in instalments split 50% in month 12, and the remainder in equal instalments in months 24, 30 and 35.

 

SOURCE: Mirabela Nickel Ltd.

For further information:

Chris Els
Chief Financial Officer & Company Secretary
Telephone: +61 439 930 333
shanik@mirabela.com.au 

John Stamopoulos
General Manager Commercial
Telephone: +61 406 424 916
shanik@mirabela.com.au