Bowen Coking signed mandate documentation and an indicative terms sheet for US$55 million debt facility

Bowen Coking Coal Ltd (ASX:BCB) announced that it entered into mandate documentation including an indicative terms sheet with Taurus Mining Finance Fund No. 2 L.P. concerning the provision of debt financing to aid the capital requirements of the Company.

The debt financing is a significant milestone in BCB’s switch to coal production, with important strides made in recent months to operationalise its key development assets. The new debt facility contemplated by the mandated documentation is proposed to be senior secured with a total limit of US$55 million. The facility would be used for capital expenses, general working requirements in recommissioning the Burton CHPP, developing the Burton and Broadmeadow East projects as well as operating the Bluff Mine.

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