DEBT RESTRUCTURING
Vanadium producer Largo Resources has signed an indicative term sheet with its consortium of existing commercial banks in Brazil for a new debt facility, that would allow a restructuring of its export credit facilities for its Maracas Menchen mine, in Brazil.
Under the terms of the new facility the miner would have a working capital facility of 104.6-million Brazilians reais, which would be disbursed in 12 monthly instalments, starting on January 12, 2016.
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