Nyrstar successfully completes increase of Structured Commodity Trade Finance Facility
26 Avril 2017 - 7:00PM
Regulated Information - Inside
Information
26 April 2017 at 19:00
CEST
Nyrstar
today announced that it has successfully completed an increase of
its multi-currency Structured Commodity Trade Finance Facility from
EUR 400 million to EUR 500 million on a committed basis.
The
Structured Commodity Trade Finance Facility includes an accordion
to increase its size to EUR 750 million on a pre-approved but
uncommitted basis. The amount that Nyrstar may draw-down
under the facility is determined by reference to the value of
Nyrstar's inventories and receivables (the borrowing base) and
accordingly adjusts as commodity prices change. On the basis of
increased commodity prices, the borrowing base in recent months has
been greater than the previous EUR 400 million committed facility
limit.
Commenting on the increased facility limit, Chris Eger, Chief
Financial Officer of Nyrstar, stated:
"Over
the past several years, the Structured Commodity Trade Finance
Facility has demonstrated that it is well suited to our business in
order to finance changing working capital requirements and will
continue to be a cornerstone for our long-term financing needs.
Over the past 12 months we have experienced an increase in working
capital requirements as a result of improved commodity
prices. Augmenting this facility by EUR 100 million will
further enhance the liquidity at an attractive cost of
capital."
As was
previously disclosed by Nyrstar on 14 April 2017 in the
announcement for the Special General Meeting to be held on 18 May
2017, Nyrstar has further strengthened its balance sheet at the end
of March 2017 with the entry between Nyrstar and Goldman Sachs of
an additional USD 60 million silver prepay agreement with a 6 month
grace period followed by a 6 month amortisation.
About Nyrstar
Nyrstar
is a global multi-metals business, with a market leading position
in zinc and lead, and growing positions in other base and precious
metals, which are essential resources that are fuelling the rapid
urbanisation and industrialisation of our changing world. Nyrstar
has mining, smelting, and other operations located in Europe, the
Americas and Australia and employs approximately 4,300 people.
Nyrstar is incorporated in Belgium and has its corporate office in
Switzerland. Nyrstar is listed on Euronext Brussels under the
symbol NYR. For further information please visit the Nyrstar
website: www.nyrstar.com
For further information
contact:
Anthony Simms - Group Manager Investor
Relations T: +41 44 745 8157 M: +41 79 722
2152 anthony.simms@nyrstar.com
Franziska Morroni - Group Manager Corporate
Communications T: +41 44 745 8295 M: +41 79 719 2342
franziska.morroni@nyrstar.com
The full press release can be downloaded from the
following link:
Press Release (English)
Press Release (Dutch)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nyrstar via Globenewswire
Nyrstar NV (EU:NYR)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Nyrstar NV (EU:NYR)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024