Gindalbie (ASX:GBG) Signed US$1.2B Loan Agreement with Chinese Banking Syndicate
The 12-year Karara project loan facility is being provided on competitive commercial terms principally by the China Development Bank and Bank of China with Ansteel providing a 100 per cent parent company guarantee. The facility is based on the US 6 month London Inter-Bank Offer Rate with a competitive margin.
These documents were signed in Canberra today in presence of China's Vice President Xi Jinping and Australian Prime Minister Kevin Rudd.
The Australian and Chinese officials witnessed formal signing ceremonies for 10 deals, mainly resource-related, worth a combined A$10 billion.
Gindalbie Metals Ltd
Bank of China Limited