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.