RMB Approves its Participation in the $30M Kipoi Bridge Facility
Sydney, May 9, 2013 AEST (ABN Newswire) - Tiger Resources Limited (
ASX:TGS) is pleased to announce that FirstRand Bank Limited, acting through its Rand Merchant Bank division (RMB), has confirmed internal credit approval for its participation in the US$30 million bridging facility which it is jointly arranging with Nedbank Limited, acting through its Nedbank Capital division (Nedbank Capital).
HIGHLIGHTS:
- US$15 million bridging facility credit-approved by RMB
- Independent technical review completed
- RMB's funding available subject to finalisation of standard financing conditions
- Credit decision of Nedbank Capital awaited
RMB and Nedbank Capital are arranging a US$80 million debt financing facility to Société de Exploitation de Kipoi SPRL (SEK), the operator of the Kipoi Copper Project in the Democratic Republic of Congo (DRC) in which Tiger has a 60% interest, supported by the Export Credit Insurance Corporation of South Africa Limited (ECIC).
About Tiger Resources Limited
Tiger Resources Limited (ASX:TGS) has established itself as a producing copper/cobalt company with excellent growth potential after making the transition from an explorer. We have a highly-rated portfolio of properties, all strategically located on the world renowned Katanga Copperbelt in the Democratic Republic of the Congo (DRC), central Africa.
