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Platinum Australia Signs Committed Letter of Offer for Bridging Finance Facility
Friday August 21, 2009, 9:37 am

Original Announcement: Bridging Finance Facility

Platinum Australia advised that it has signed a Committed Letter of Offer for a Bridge Facility of $15m with Macquarie Bank for the purpose of retiring its finance and hedging facilities provided by Standard Bank of South Africa. The Facility is repayable in full by 31 August 2011, with no penalty for early repayment and carries an interest rate of 8% per annum with a Facility Fee of 1.75%. The Facility is secured by a floating charge over the assets of PLA. In addition, PLA will issue to MBL 1,428,571 options over ordinary shares in PLA, exercisable at $1.05 per share.

More information about PLA.AX
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