Anglo Pacific Group has agreed to a $30 million increase to its revolving credit facility and extended the term by 12 months to September 2022.
The increase brings the total committed RCF to $90 million. This could increase to $120 million should the accordion feature be implemented.
The increase reflects the group’s additional borrowing capacity associated with the significant increase in volumes and revenue from Kestrel, along with the additional $75 million of income producing assets acquired in 2019.
Including the $30 million accordion, the group has access to more than $75 million of liquidity.
“We are pleased to announce another step up to our borrowing facility and an extension of the term by a further year. We are appreciative to our lending banks — Barclays, Investec and Scotiabank — for the confidence and support they continue to place in the growth ambitions of the company,” said Kevin Flynn, Anglo Pacific CEO.
Anglo Pacific Group is a natural resources royalties business based in London.
