Translation..6 Dec 2014 15:37
Maple Announces execution of financing by $160 million [reply]
Maple Energy plc announced yesterday that some of its subsidiaries have entered into a contract with the banks Itau BBA SA, Nassau Branch, International Bank of Peru SAA and Bancolombia Puerto Rico Internacional Inc. Dichos banks, together with the Financial Corporation of SA development, support with a loan of eight-year senior term insurance, for $160 million.
The term of the loan was signed by two branches of Maple, Maple ethanol SRL and Arce Biocombustibles S.R.L., which directly own and operate the
ethanol business. He is expected that the loan is disbursed before the 15 of August of 2013, and is subject to compliance with certain conditions.
The loan proceeds will be used for:
(1) payment of the totality of actions with obligations, including principal, interest and Commission for early payment, upon payment in advance of debt-financing existing guaranteed senior with the Corporación Andina de Fomento, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, inter-American Development Bank, and Interbank previously incurred in relation to the development of the ethanol of the company business,
(2) pay transaction costs and the costs associated with the term of the loan, and
(3) to provide additional funds for general corporate purposes. The term of the loan shall expire eight years from the date of disbursement and accrue interest at one rate LIBOR increased applicable margin follows:
(1) 4.75% for the first three years
After the disbursement,
(2) 5.25% from the date that is three years after the disbursement date that is five years after the disbursement, and
(3) 5.50% from then until the end of the loan period.
The three-month LIBOR rate: the rate for deposits in eurodollars for a period of three months, that appears on the LIBOR01 page published by Reuters News. Payments of principal and interest over the term of the loan will be paid on a quarterly basis with 32 quarterly
share capital in the following manner:
(i) $ 2 million for the first installment,
(ii) (ii) $2.3 million for each of the next four installments;
(iii) (iii) of $ 3 million for each of the next four installments;
(Iv) $ 5.175 million each of the next eight fees; (v) $ 5,800,000 for each of the
next 13 installments, and
(iv) (vi) $10 million for each of the last two deliveries.
The term of the loan will be guaranteed by:
(1) rely on agreements on certain assets
Maple announces implementation of funding by $160 million [Answer]
Maple Energy plc announced yesterday that some of its subsidiaries have entered into a contract with banks Banco Itau BBA SA, Nassau Branch, International Bank of Peru SAA and Bancolombia Puerto Rico International Inc. These banks, along with the Development Finance Corporation SA, supported by a loan of eight years, senior term insurance, for $160 million.
The term of the loan was signed by the two subsidiaries of Mapl
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