| Mon 3 Jul 2023, 7:05 | | NORTHAM PLATINUM HOLDINGS LIMITED - Restructure of banking facilities: Settlement and cancellation of the term loan facility and increase to the RCF |
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Restructure of banking facilities: Settlement and cancellation of the term loan facility and increase to the RCF
NORTHAM PLATINUM HOLDINGS LIMITED NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa
Registration number: 2020/905346/06 Registration number: 1977/003282/06
Share code: NPH ISIN: ZAE000298253 Debt issuer code: NHMI
(“Northam Holdings” or, together with its subsidiaries, Bond code: NHM015 Bond ISIN: ZAG000164922
“Northam” or the “Group”) Bond code: NHM016 Bond ISIN: ZAG000167750
Bond code: NHM019 Bond ISIN: ZAG000168105
Bond code: NHM020 Bond ISIN: ZAG000172594
Bond code: NHM021 Bond ISIN: ZAG000181496
Bond code: NHM022 Bond ISIN: ZAG000190133
Bond code: NHM023 Bond ISIN: ZAG000190968
Bond code: NHM024 Bond ISIN: ZAG000195926
Bond code: NHM025 Bond ISIN: ZAG000195934
Bond code: NHM026 Bond ISIN: ZAG000195942
(“Northam Platinum”)
RESTRUCTURE OF NORTHAM’S BANKING FACILITIES: SETTLEMENT AND CANCELLATION OF THE TERM LOAN FACILITY AND
INCREASE TO THE REVOLVING CREDIT FACILITY FROM R7.2 BILLION TO R10 BILLION
Northam is pleased to announce that it has successfully concluded and implemented an agreement to restructure its
existing banking facilities, whereby (i) the R2.445 billion term loan facility (“Term Loan”) has been fully settled and
cancelled, and (ii) the existing R7.155 billion five-year revolving credit facility (“RCF”) has been increased by
R2.845 billion to R10 billion (“Restructure”).
As a result of the Restructure, Northam’s total available banking facilities now amount to R11 billion, comprising the
increased RCF of R10 billion and existing general banking facilities of R1 billion.
The remaining terms of the RCF remain unchanged, including the maturity date being August 2027.
The Term Loan had a staggered maturity profile of four equal tranches, commencing in February 2026 and ending in
August 2027. Consequently, the Restructure has both increased Northam’s available banking facilities and removed the
early staggered maturity profile, thereby enhancing the Group’s liquidity and financial flexibility until August 2027.
As at 30 June 2023, all Northam’s banking facilities were fully undrawn and available.
Alet Coetzee, Northam’s Chief Financial Officer, said “The restructured and increased banking facilities provide the
Group with additional liquidity and financial flexibility. Northam remains appreciative of the continued support and
additional commitment from its consortium of lenders.”
Johannesburg
3 July 2023
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
Attorneys to Northam Holdings and Northam Platinum
Webber Wentzel
Global Coordinator and Facility Agent in respect of the RCF
Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division)
Date: 03-07-2023 07:05:00
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