With the support of Wright Legal, Paladin Energy has signed their US$150m syndicated facilities with Nedbank and Macquarie Group. This debt arrangement provides Paladin with financial flexibility as it resumes operations at the Langer Heinrich Mine in Namibia and exploration at the Michelin project in Canada.The debt facility is composed of a US$100 million amortising term loan, with a five year term, and a US$50 million revolving credit facility with a three year term, extendable by two options of 12 months each.
Dom McGreal, Director of Wright Legal said “It’s undeniable that we are in a uranium bull market - and this deal shows that it’s a sustainable price environment for banks to back good projects in proven jurisdictions.
The team at Wright Legal appreciated the opportunity to assist Paladin Energy on this significant financing transaction and congratulated all involved including Paladin Energy team led by Anna Sudlow and Jeremy Ryan. DLA Piper acted for the banks.
See the ASX (PDN) announcement here.
