RNS26 Feb 2018 07:23
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Home::Regulatory News (RNS)::Financing UpdateBookmark this page
Regulatory News
Financing Update
Mon, 26th Feb 2018 07:09
Altyn Plc
("Altyn" or the "Company")
Proposed $15m bond finance to accelerate production
The Company is pleased to announce that its subsidiary MC Baurgold LLP has secured an underwriting agreement with JSC Freedom Finance, a subsidiary of Freedom Holding Corp. to raise c. US$15m, through the issue of five-year non-convertible tenge-denominated bonds secured by the assets of the Company, with a coupon rate of 8% payable semi-annually in arrears.
The Company intends to use the proceeds of the bond issuance to finance the purchase of underground equipment in line with the Company�s plans to significantly ramp up production. The Company will update shareholders with further information as financing progresses.
Aidar Assaubayev, CEO of Altyn Plc commented:
�This is an important point in the development of the Company. Completion of the bond issuance will allow the Company to accelerate the achievement of target production capacity levels, transforming the Company into a significant gold producer in Kazakhstan