Stanmore Resources to Refinance $350 Million Term Loan, $100 Million Revolving Credit Facility

MT Newswires Live08-26

Coal miner Stanmore Resources (ASX:SMR) has received binding commitments to refinance its $350 million five-year amortizing term loan, its $100 million revolving credit facility and restructured contingent instrument facilities, according to a Monday filing to the Australian bourse.

The commitment comes from a syndicate of commercial banks and financial institutions, with proceeds from the term loan to repay the $210 million balance in its acquisition financing facility and pay for general working purposes, the filing stated.

Commercial banks will provide the revolving facility which, alongside the extended GEAR facility, will replace its undrawn working capital facilities, according to the filing.

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