Kenmare Resources Agrees To Project Finance Restructuring For Moma Mine
News: Irish mining company Kenmare Resources has agreed to the restructuring of project financing with the project lenders of its Moma mine in Mozambique. As part of the restructuring, the payment of all deferred subordinated debt, that would remain unpaid as of July 31 2015, has been rescheduled from the original scheduled repayment date of August 1 2015. Around 50% of the deferred subordinated debt will be amortised in nine equal semi-annual instalments commencing on August 1 2015 and ending on August 1 2019. In addition, the back-stop date for the project completion has been removed.