JSE-listed Tharisa has, subject to the fulfilment of certain conditions precedent, signed a $130-million debt facility with Absa Bank – acting through its Corporate & Investment Banking (CIB) division – as initial mandated lead arranger and co-mandated lead arranger, and the Standard Bank of South Africa – acting through its CIB division – as co-mandated lead arranger, as part of the company's ongoing debt capital programme. The facility comprises a four-year term loan of $80-million – with an accordion of $20-million – and a revolving R900-million credit facility, with the funds to be used to prepay the balance of an existing term loan and revolving credit facility, as well as for general corporate and working capital purposes, including investing in the sustainability of the Tharisa mine, in the North West province.
