Perspective
23 January 2020
Moma: Kenmare turns project debt vanilla
In:
Metals and Mining
Region:
Middle East & Africa
Ireland-based Kenmare Resources returned to the debt markets in December to refinance the remaining debt backing its Moma titanium mine in Mozambique. But this time round, the deal has a new lender line-up, vanilla structure, looser covenants and cheaper pricing, which all reflect the strength of the mine’s cash flows and its expansion capacity.
