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BRIEF-Straits Resources says agreement signed for restructuring deal

Published 03/08/2015, 09:35 am
Updated 03/08/2015, 09:36 am
© Reuters.  BRIEF-Straits Resources says agreement signed for restructuring deal
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Aug 3 (Reuters) - Straits Resources Ltd SRQ.AX :

* Restructuring agreement secures straits' future SRQ.AX

* Agreement signed for restructuring deal that reduces standard chartered bank debt by 55 percent to $50 million

* 3 year US$25 million revolving priority debt facility established with special portfolio opportunity v ltd

* Under terms of restructuring, strait's outstanding debt with scb of ca.us$111 million will be reduced by 55% through a new senior debt facility with SCB

* As a part of restructuring, PAG SPV to provide US$25 million in a three year revolving priority debt facility for working capital and growth projects

* Source text for Eikon ID:nASX2vXtNk

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