Kropz secures R170m loan facility
Aim-listed phosphate producer and developer Kropz’s subsidiary Kropz Elandsfontein has secured a R170-million loan facility from ARC Fund.
The loan will be used by Kropz Elandsfontein to fund its cash flow and operational expenditure needs.
The loan is unsecured with no fixed term, with interest payable at the South African prime overdraft interest rate plus 6%, nominal yearly and compounded monthly.
In the event that any amounts outstanding under the loan, together with interest thereon, are not repaid within six months from the first date of use, the interest rate will be increased by an additional 2%.
Meanwhile, Kropz remains in discussions with potential lenders regarding a replacement loan for a previously acquired BNP loan facility, on which $11.25-million is still owed.
The company says that this replacement loan arrangement is expected to be completed by the second quarter.
Kropz announced on December 21 last year that BNP had extended its waiver period to March 31. The company has started discussions with BNP to further extend the waiver period.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation