Financing3 Jan 2020 20:20
So SPMP have outstanding liabilities of $75m to the two banks. They’re looking to obtain finance for $160m (of which $60m is working capital to buy feedstock - I.e a revolving credit facility). To me this reads as though the $160m will be used to re-finance the existing debt - so net $25m required (ex. the working capital) or $85m (inc. $60m working capital).
I fear that recent RNS’ have been unclear for a reason......