By Anthony O. Goriainoff

 

China Nonferrous Gold Ltd. said Friday that it has agreed a $46.4 million loan with China CITIC Bank Corporation Ltd.

The AIM-listed, Tajikistan-focused gold mining company said the loan is for a maximum of 12 months and is repayable 12 months from first drawdown. It added the facility carries a 2.70% annual interest rate plus 6-month LIBOR, and that the loan will be guaranteed by China Nonferrous Metal Mining (Group) Co., Ltd.

"Approximately $20 million of the CITIC Loan is expected to be drawn down shortly and will be used for the replacement of CCB Macau loan of $20 million which is due in January 2021," the company said.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

January 22, 2021 03:03 ET (08:03 GMT)

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