20974 29Metals AR23 WEB V1 - Flipbook - Page 178
29Metals 2023 Annual Report
174
Consolidated Financial Statements continued
99
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Consolidated Financial Statements
Note 26: Interest-bearing liabilities (continued)
n 2 May 2 2 the Group drew down on the wor ing capital facility The wor ing capital facility is repayable at the end of its interest period Any part
of the wor ing capital facility that is repaid can be reborrowed sub ect to an annual clean down re uirement
Amendmen
eed S nd
ed F
A eemen (‘Amended SFA’)
n 2 une 2 2 in the conte t of the impact of the treme eather vent at apricorn opper the Group and its lenders agreed to amend the
Syndicated Facility Agreement dated 2 ctober 2 2 which amendments
▪
e tended the maturity date of the Group’s environmental ban guarantee facility by one year to 29 ctober 2 2 facility was due to e pire in
ctober 2 2 and
▪
provided relief against certain covenants under the Group debt facilities for the
une 2 2 calculation date
n 29 August 2 2 again in the conte t of the impact of the treme eather vent at apricorn opper the Group and its lenders agreed to further
amendments to the Syndicated Facility Agreement dated 2 ctober 2 2 which amendments
▪
provided further relief against certain covenants under the Group debt facilities for the
ecember 2 2
une 2 2 and
ecember 2 2
calculation dates with the ne t covenant testing for these covenants for the
une 2 2 calculation date and
▪
varied the uarterly repayment instalments by increasing the total repayments for the uarters ended September 2 2 to
une 2 2 to
S
from S
with the last repayment on September 2 2 reducing from S
to S
Refer to Note 2 for information regarding the Group’s assumptions in respect of its compliance with covenants under the Group’s Syndicated Facility
Agreement over the coming 2 months
Terms and conditions of outstanding Group Syndicated Facilities
Facilities as at 31 December 2023
Note
Term loan
or ing capital facility
Total Facility
Used
Unused
Total Facility
Used
Unused
USD $’000
USD $’000
USD $’000
AUD $’000
AUD $’000
AUD $’000
i
Na
ii
2
2
99
99
Na
2
2
nvironmental ban guarantee facility
iii
Na
Na
Na
etter of credit facility
iv
Na
Na
Na
Na
Na
Na
Total Facility
Used
Unused
Total Facility
Used
Unused
USD $’000
USD $’000
USD $’000
AUD $’000
AUD $’000
AUD $’000
9
9
redit cards facility
2
29
Facilities as at 31 December 2022
Note
Term loan
or ing capital facility
i
Na
ii
9
9
nvironmental ban guarantee facility
iii
Na
Na
etter of credit facility
iv
Na
Na
Na
Na
Na
Na
redit cards facility
9
Na
9
Na
2
2
The term loan has fi ed uarterly repayments commencing September 2 22 with the final repayment due on September 2 2
The wor ing capital facility may be used to fund Group wor ing capital and li uidity re uirements Repayment is due on the last day for each interest period or months and is
sub ect to an annual clean down re uirement re uiring the Group to ensure that for a continuous period of three consecutive usiness ays in each 2 month period following
Financial lose ctober 2 2 there is no wor ing capital facility amount outstanding The maturity date of this facility is 29 ctober 2 2 The wor ing capital facility is
S
until the fourth anniversary of financial close being 29 ctober 2 2 when the facility is reduced to S
iii
n 2 une 2 2 the maturity date of the environmental ban guarantee facility was e tended by one year to 29 ctober 2 2
iv The maturity date of the letter of credit facility is 29 ctober 2 2
i
ii
The Group syndicated debt facilities are secured over the assets and rights of 29Metals’ controlled entities registered in Australia
The weighted average effective interest rate on the term loan and wor ing capital facility is as follows
Term loan and wor ing capital facility
99
2023
2022
%
%
