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Company News Summary

Lynas Corporation Announces Partial Repayment of JARE Loan Facility

02 Aug 2017  |  09:41:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Partial Repayment of JARE Facility - Closure of Accounts

Lynas Corporation announced that it has satisfied the conditions for closure of the restricted cash accounts associated with the JARE loan facility and the convertible bond facility. This will result in a US$15m principal repayment under the JARE facility, and the full satisfaction of all interest liabilities for the period ending December 2015 for both loan agreements, when the restricted accounts are closed in a few days' time. The JARE restricted cash account holds a total amount of US$15.4m related to interest incurred on the JARE facility between October 2014 and December 2015. The convertible bond restricted cash account holds a total amount of US$6.2m related to interest incurred on the convertible bond facility between January 2015 and December 2015.

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