PERTH （miningweekly.com） – ASX-listed Alumina on Monday advised shareholders that it had executed a $320-million unsecured senior syndicated revolving cash facility as part of its ongoing renewal of its banking facilities.
The facility, which was oversubscribed, comprises a $106,7-million, three-year tranche, as well as a $213,3-million five-year tranche.
The facility would be made available for general corporate purposes, company CFO Judith Downes said.
“We are delighted with the response received from the syndicate, and that we have achieved our objectives of lengthening the maturity profile of our debt, and reducing our average funding costs.”
Downes noted that Alumina had also added three new relationship banks, which it believed indicated the level of bank appetite for exposure to Alumina and its businesses.
Alumina owns a 40% interest in the world’s largest aluminium business Alcoa World Aluminium and Chemicals, and is listed on the A
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