Katanga takes convertible loan
Katanga Mining has secured a US$265.3m convertible loan from shareholder Glencore, having previously professed an urgent need for cash. The two-year mandatorily convertible facility, priced at 300bp over Libor, comprises a new US$100m loan, and the amendment and restatement of an existing US$150m Glencore loan, which accrued interest has taken to US$165.3m.
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