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NHM
NHM
NHM - Northam Platinum Limited - Northam enters into a R1.0 Billion
revolving credit facility
NORTHAM PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1977/003282/06)
Share code: NHM ISIN: ZAE000030912
("Northam" or "the Group")
NORTHAM ENTERS INTO A R1.0 BILLION REVOLVING CREDIT FACILITY
Shareholders are advised that Northam has entered into a facility
agreement with Nedbank Limited, acting through its Nedbank Corporate
and Nedbank Capital divisions ("Nedbank"), regarding a R1.0 billion 5-
year revolving credit facility (the "Facility").
The raising of the Facility is in line with Northam`s previously
stated funding strategy and will further strengthen Northam`s balance
sheet and support the Group`s key strategic initiatives, specifically
the development of its Booysendal mine ("Booysendal") situated on the
eastern limb of the Bushveld Complex.
Together with Northam`s existing cash reserves of approximately ZAR1.7
billion (as at 30 June 2011) and ZAR1.2 billion from the proposed sale
of the southern portion of Booysendal, the Facility provides Northam
additional financial flexibility and will ensure the Group is fully
funded in the medium-term to pursue its strategic priorities.
The salient terms of the Facility are as follows:
1. 5 (five) year senior unsecured revolving credit facility;
2. Facility limit of R1.0 billion;
3. Available to be utilised by way of periodic drawdown requests
until the earlier of 1 (one) month prior to final maturity and
cancellation of the agreement;
4. Voluntary prepayment and redraw permitted; and
5. Other terms, conditions and covenants typical for a facility of
this nature.
Johannesburg
14 November 2011
Financial and debt advisor to Northam
Deutsche Bank
Mandated arranger, original lender and facility agent
Nedbank Corporate
Nedbank Capital
Legal advisor to Northam
Werksmans Attorneys
Legal advisor to Nedbank
Bowman Gilfillan
Sponsor to Northam
One Capital
Date: 14/11/2011 11:30:00 Produced by the JSE SENS Department.
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