Nautilus receives further bridge loans as SPV launches in China

Seafloor mining pioneer Nautilus Minerals continues to secure bridge financing from Deep Sea Mining Finance, with the latest advance of $3-million bringing the loans to date to $9.65-million, the company said on Tuesday. The bridge loans are expected to form part of a larger secured structured credit facility of up to $34-million to be provided by the lender. The loans carry a coupon of 8%, payable bi-annually in arrears, with a one-year maturity date.