Coal of Africa signs loan with Investec

Region:

Middle East & Africa

Mayur Pande

Analyst

South African coal mining company, Coal of Africa Limited (CoAL), has signed an 18-month, R210 million (approximately $21.4 million) working capital facility from Investec Bank Limited (Investec). The principal terms of the loan include a margin of 500 basis points, pledge and cession of the shares and loan accounts in the major operating subsidiaries of the group.

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