China Nonferrous Gold Agrees $46.6 Million Loan
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
Write to Anthony O. Goriainoff at
(END) Dow Jones Newswires
January 22, 2021 03:03 ET (08:03 GMT)
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