Ora Banda Mining Enters AU$50 Million Credit Facility with ANZ, CBA

MT Newswires Live

Mar 07

Ora Banda Mining (ASX:OBM) entered into a secured syndicated facility agreement with the Australia and New Zealand Banking Group and Commonwealth Bank of Australia (ASX:CBA) for a revolving credit facility of AU$50 million for an initial two-year term, according to a Friday Australian bourse filing.

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) is the holding company of Australia and New Zealand Banking Group.

The agreement includes an option to extend the facility by a year.

The mining firm purchased put options on the Australian dollar gold price for 100,000 ounces, spread evenly over the period July 1 to June 30, 2026, to underpin operating cash flows for the period.

The exercise price of the put options is AU$4,400 per ounce at a cost of $14.2 million.

Ora Banda shares fell past 1% in early trading on Friday.

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