Oct 5 (Reuters) - Valence Industries Ltd VXL.AX :
* Finance update
* Says intends to improve existing graphite processing at its uley graphitetm
plant in south Australia
* Intends to reduce its overall debt facilities from the planned level of
US$75M to no more than US$40M in the foreseeable future
* Required capex for uley plant upgrades is not expected to exceed a current
estimate of A$7M subject to final design detail
* Says the draw down under the initial facility will be for an amount up to
US$20M
* Bridging facility has been increased to AUD$5.0 million with AUD$4.5m now
drawn by Valence Industries to meet current requirements
* Source text for Eikon ID:nASX7fH1gn