USD75M Loan Facility with Standard Chartered Bank
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Energy World Corporation Limited (EWC) | 3:34 pm, Wednesday 29 October 2008 | EWC | 1.450 |
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Energy World Corporation Limited (EWC) enters into a US$75,000,000 3-year Bilateral Revolving Working Capital Loan Facility with Standard Chartered Bank (SCB)
The Company is pleased to announce that it has successfully concluded negotiations with Standard Chartered Bank (SCB) and formally entered into a US$75 million 3-year Bilateral Revolving Working Capital Facility with SCB. An amount of US$52,359,890.52 from this facility was utilised to fully repay the SCB bridge facility on 22 October 2008. The balance of funds available will be utilised by the Company for its previously announced project developments and working capital requirements. The facility has a lump sum single bullit repayment on 20 October 2011. The interest rate is 0.50% p.a. over the bank’s cost of funds.
Shareholders requiring any further information in connection with this announcement could contact the undersigned.
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