Rurelec PLC Further re: Short Term Loan Facility (6259Q)
June 19 2015 - 2:00AM
UK Regulatory
TIDMRUR
RNS Number : 6259Q
Rurelec PLC
19 June 2015
19 June 2015
RURELEC PLC
("Rurelec" or "the Company")
Further re: Short Term Loan Facility
The Company announces that it has signed a bridging loan
facility of US $12 million against the anticipated sales of the
Peru hydro projects. The Company has also settled terms for a one
year strategic loan from a large organisation within the South
American power industry. When contracted, this will allow the Group
to settle the deferred payment to IPSA Group PLC and repay other
outstanding obligations. This facility is the first stage of an
intended wider cooperation with the South American company, a power
generation company operating in the same field as Rurelec in
Central and Latin America.
The Group expects to repay all loans from the proceeds of the
sale of its Peruvian hydro portfolio, but with contingency plans
for repayment from other sources if the sales are delayed.
For further information please contact:
Rurelec PLC W H Ireland CNC Communications
Peter Earl, CEO Paul Shackleton Ana Ribeiro
and James Bavister Director
Tel: 020 7793 Tel: 020 7220 Tel: 020 3219
5600 1666 8818
This information is provided by RNS
The company news service from the London Stock Exchange
END
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