R/€ = 16.13 Change: 0.06
R/$ = 14.42 Change: 0.06
Au 1282.45 $/oz Change: 7.76
Pt 806.68 $/oz Change: 5.78
 
 
R/€ = 16.13 Change: 0.06
R/$ = 14.42 Change: 0.06
Au 1282.45 $/oz Change: 7.76
Pt 806.68 $/oz Change: 5.78
 
 
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Lenders agree to increase Royal Bafokeng Resources’ debt facilities to R3bn

25th September 2018 BY: Simone Liedtke
Writer

Nedbank and First Rand Bank, trading through its Rand Merchant Bank division, have agreed to increase Royal Bafokeng Resources’ (RBR’s) existing debt facilities from R2-billion to R3-billion.

RBR, a subsidiary of Royal Bafokeng Platinum (RBPlat), earlier this year entered into an agreement to acquire Rustenburg Platinum Mines’ 33% interest in the Bafokeng Rasimone Platinum Mine joint venture (JV) for about R1.86-billion.

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The lenders’ agreement to increase RBR’s debt facilities was a key condition to the agreement.

The transaction still remains subject to the fulfilment of a number of conditions precedent, including approval by RBPlat shareholders and approval by the Department of Mineral Resources in terms of Section 11 of the Mineral and Petroleum Resources Development Act. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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