BCB executed new funding arrangements to fast track Burton Mine

Bowen Coking Coal Limited (ASX: BCB) announced that it had executed a series of funding arrangements, which is totaling ~AU$190 million to support the company’s development of its portfolio of development-ready coking coal assets. The new funding includes a combination of new debt facilities and convertible loan notes, which are:

• AU$79 million secured corporate debt facility agreement with Taurus Mining Finance Fund No. 2, L.P.
• AU$70 million secured performance bonding facility agreement with New Hope Corporation
• Issuance of an additional AU$40 million in unsecured convertible loan notes

The execution of the series of funding arrangements will help the company to complete the purchase of the Burton Mine and Lenton Project. The acquisition will enable the company with immediate access to scale with more than 500Mt of attributable resources.

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