[miningmx.com] – PLATINUM producer, Lonmin, has drawn down a $400m
revolving credit facility in order to stay afloat whilst it negotiates a restructure of its debt with lenders, said Bloomberg News in an article that was republished by BDLive.
The company withdrew funds as it needs cash to continue operating amid falling platinum prices and to strengthen its position in negotiations with lenders over the facility, scheduled to mature in May, sources told Bloomberg News.
The metals producer hired Greenhill & Co to advise on the refinancing or restructuring of its debt, people familiar with the matter said in August, the newswire said.
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