Extends Term of A$120 Million Line of Credit by 3 Years
Brisbane, Sep 6, 2012 AEST (ABN Newswire) - Linc Energy Ltd (
ASX:LNC) (OTCQX:LNCGY) is pleased to announce it has reached agreement on the terms for an extension of its previously announced A$120 million Line of Credit facility with an affiliate of Fortress Investment Group LLC until 24 July 2015. The agreement is subject to standard conditions precedent expected to be satisfied within the next 30 days.
The facility is secured by certain assets of the Company but allows the Company to deal with those assets and repay any drawn down funds at any time during the availability period and does not prevent the Company's ability to raise more funds as and when it may require them in the future.
Contact
Linc Energy Limited
T: +61-7-3229-0800
F: +61-7-3229-6800
WWW: www.lincenergy.com.au
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