SYDNEY (Yosefardi) – Debt restructuring between PT Indo Muro Kencana (IMK) and Credit Suisse International on silver prepayment facility has been completed.
Straits Resources Ltd, parent of IMK, said both companies agreed to the terms upon which the existing facility and associated liabilities are to be restructured.
PT Indo Muro Kencana operates Mt Muro gold mine in Central Kalimantan province, Indonesia.
Straits will now proceed with the issue of 3.75 million Class A convertible Notes and 3.25 million Class B convertible notes, each with a face value of US$1.
“This is another significant step forward in the de-risking of Straits and enables us to focus on our core copper assets, including the Tritton Copper mine in New South Wales,” said Andre Labuschagne, executive chairman of Straits.