Lenders agree to increase Royal Bafokeng Resources’ debt facilities to R3bn

Nedbank and First Rand Bank, trading through its Rand Merchant Bank division, have agreed to increase Royal Bafokeng Resources’ (RBR’s) existing debt facilities from R2-billion to R3-billion. RBR, a subsidiary of Royal Bafokeng Platinum (RBPlat), earlier this year entered into an agreement to acquire Rustenburg Platinum Mines’ 33% interest in the Bafokeng Rasimone Platinum Mine joint venture (JV) for about R1.86-billion.