Business
Extension of borrowing facility to US$90M + US$30M
Extension of borrowing facility to US$90M + US$30M.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \nRNS Number : 2200B Anglo Pacific Group PLC 29 January 2020 \n\nNews Release\n \n29 January 2020\n \n \nAnglo Pacific Group PLC\nUpsizing and extension of borrowing facility to US$90 million plus US$30 million accordion\n \nAnglo 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. \n \nThe increase brings the total committed RCF to US$90m. This could increase to US$120m should the accordion feature be implemented.\n \nThe 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.\n \nIncluding the US$30m accordion, the Group has access to over US$75m of liquidity.\n \nKevin Flynn, Chief Financial Officer of Anglo Pacific, commented:\n\"We are pleased to announce another step up to our borrowing facility and an extension of the term by a further year. \n \nWe 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. \n \nWith over US$75m of liquidity potentially available, we are in a strong financial position to continue growing and diversifying our portfolio.\"\n \n \nFor further information:\n \n\n\n\nAnglo Pacific Group PLC\nJulian Treger - Chief Executive Officer \nKevin Flynn - Chief Financial Officer and Company Secretary\n \n\n\n +44 (0) 20 3435 7400\n\n\n\n\nWebsite: \n \n\n\nwww.anglopacificgroup.com\n \n\n\n\n\nBerenberg\n\n\n+44 (0) 20 3207 7800\n\n\n\n\nMatthew Armitt / Jennifer Wyllie / Detlir Elezi \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP \n\n\n +44 (0) 20 7418 8900\n\n\n\n\nRoss Allister / James Bavister\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRBC Capital Markets\n\n\n+44 (0) 20 7653 4000\n\n\n\n\nFarid Dadashev / Marcus Jackson / Jamil Miah\n\n\n\n\n\n\n\n\n\n\n\n\n\...