Toubani Resources Receives Credit-Approved Term Sheet for $80 Million Coris Bank Facilities; Shares Jump 4%

MT Newswires Live

01/28

Toubani Resources (ASX:TRE) received a credit-approved term sheet from Coris Bank International for a $73.3 million senior secured project finance facility and a $10.2 million mezzanine facility, according to a Wednesday Australian bourse filing.

The company added that it was working to complete definitive documentation for the facilities. The senior secured project finance facility carries a 10% per year interest rate and is denominated in West African CFA francs.

Toubani Resources' shares jumped past 4% in recent trading on Wednesday.

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