Anglo Pacific Group PLC (“Anglo Pacific”, the “Company”) (LSE: APF, TSX: APY) is pleased to announce that it has agreed a US$30m increase to its Revolving Credit Facility (“RCF”), along with extending the term by twelve months to September 2022.
The increase brings the total committed RCF to US$90m. This could increase to US$120m should the accordion feature be implemented.
The increase reflects the Group’s additional borrowing capacity associated with the significant increase in volumes and revenue from Kestrel, along with the additional US$75m (£62.5m) of income producing assets acquired in 2019.
Including the US$30m accordion, the Group has access to over US$75m of liquidity.
Kevin Flynn, Chief Financial Officer of Anglo Pacific, commented:
“We are pleased to announce another step up to our borrowing facility and an extension of the term by a further year.
We are appreciative to our lending banks (Barclays, Investec and Scotia) for the confidence and support they continue to place in the growth ambitions of the Company.
With over US$75m of liquidity potentially available, we are in a strong financial position to continue growing and diversifying our portfolio.”
For a full copy of this release please click here