Rolf Gerritsen, CEO at MetalNRG gives an operational update and sees an exciting year ahead. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Rolf Gerritsen, CEO at MetalNRG gives an operational update and sees an exciting year ahead
Rolf Gerritsen, CEO at MetalNRG gives an operational update and sees an exciting year aheadView Video
Pembridge Resources announces a new focus on the decarbonisation of renewables market
Pembridge Resources announces a new focus on the decarbonisation of renewables marketView Video

Latest Share Chat

Duke Royalty Pays Outstanding Financing Facility Balance

Mon, 4th Nov 2019 10:27

(Alliance News) - Duke Royalty Ltd on Monday said it has paid down the entire outstanding balance of a revolving credit facility following a fundraising.

The royalty financing firm said it has paid the remaining GBP11.7 million, which it added was a key commitment of its recent fundraising strategy.

On Wednesday, Duke said it has raised total gross proceeds of GBP17.5 million, after securing an additional GBP892,287 via share open offer. The company previously had outlined plans to raise GBP20 million through a placing, retail offer, and open offer of shares priced at 44.00 pence each.

Duke Royalty share were 0.5% higher at 44.20 pence each in London on Monday morning.

Duke added: "The company's new credit facility of GBP30 million, provided by Honeycomb Investment Trust PLC, enables Duke to benefit from material annual interest savings."

It said the new interest rate will be one-month UK LIBOR plus 7.25 percentage points, previously 9.5 points.

"When utilising the accordion provision, the new credit facility provides the company with material additional headroom of a further GBP20 million, enabling access to total capital of up to GBP50 million under the facility, subject to loan thresholds," Duke said.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Related Shares

More News

TRADING UPDATES: GSTechnologies buys crypto exchange; Altus realigns

TRADING UPDATES: GSTechnologies buys crypto exchange; Altus realigns

20 Jan 22 21:13

Duke Royalty raises stake in Miriad; notes "robust" pipeline

Duke Royalty raises stake in Miriad; notes "robust" pipeline

23 Dec 21 14:24

Duke Royalty continues to convert 'robust pipeline' in Q3

(Sharecast News) - Finance provider Duke Royalty said on Thursday that it had continued to convert its "robust pipeline" in the third quarter, securing two additional partners and completing three follow-on investments into existing partners.

23 Dec 21 07:49

TRADING UPDATES: Mercia buys more Intechnica; Anexo scores VW win

TRADING UPDATES: Mercia buys more Intechnica; Anexo scores VW win

22 Dec 21 21:22

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.