17/04/2007 - 13:21

Centamin appoints Barclays to manage $120m financing deal

17/04/2007 - 13:21

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Mt Pleasant-based exploration company Centamin Egypt Ltd has appointed Barclays Capital as mandated lead arranger for a $120 million financing facility for its Sukari Gold Project.

Centamin appoints Barclays to manage $120m financing deal

Mt Pleasant-based exploration company Centamin Egypt Ltd has appointed Barclays Capital as mandated lead arranger for a $120 million financing facility for its Sukari Gold Project.

 

 

The full text of a company announcement is pasted below

Centamin Egypt Limited is pleased to announce that it has appointed Barclays Capital, the investment banking division of Barclays Bank PLC, as Mandated Lead Arranger to arrange a financing facility of up to US$100 million for the Sukari Gold Project.

Together with the proceeds from the recently completed TSX listing and offering, this facility will complete the financing arrangements required for development of Sukari. The funding is subject to completion of due diligence and detailed documentation. This process is underway and is expected to be finalised during the third quarter of 2007.

Barclays Capital is a leading provider of finance to the mining sector and has a wealth of experience in financing projects in Africa. In addition, Barclays has a strong presence in Egypt; through Barclays Bank Egypt it offers a comprehensive range of banking services for corporate clients. The appointment of Barclays follows a tender process in which competitive proposals were received from numerous banks.

 

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