RNS Number : 2680Y
New World Resources N.V
01 September 2009
Amsterdam, 1 September 2009
POP 2010 ECA financing concluded
New World Resources N.V. ('NWR'), Central Europe's leading hard coal producer, is pleased to announce the financial close of the EUR 141 million nine year loan facility guaranteed by Euler Hermes, the export credit agency ('ECA') of the Federal Republic of Germany. The facility serves to finance the acquisition of five new longwall sets under the second stage of NWR's Productivity Optimisation Programme ('POP 2010').
The EUR 141 million loan is being provided by MLAs: Ceska sporitelna (Erste Bank Group), Ceskoslovenska obchodni banka (KBC Group), KBC Bank Deutschland AG and Natixis. KBC Bank Deutschland AG acts as the Hermes Agent, Natixis is the Facility Agent and Documentation Agent. The loan finances 85% of the net purchase price of the longwall sets and the related ECA premium. The facility's availability period ends in June 2010 and NWR will repay the full facility in seventeen semi-annual linear instalments.
The successful completion of the loan facility highlights the strong credit standing of NWR, and the continued support it enjoys from its relationship banks under the current market circumstances.
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Notes for Editors:
New World Resources N.V.
New World Resources N.V. is the sole owner of OKD, a.s., the Czech Republic's largest hard coal mining company and one of the largest producers in Central Europe by revenue and volume. Serving customers in the Czech Republic, Slovakia, Austria, Poland, Hungary and Germany, the Company produced 12.7 mt of coal in 2008, 7.4 mt of which was coking coal.
For further information please contact:
New World Resources N.V.
Investor Relations
Tel: +31 20 570 2270
Email: ir@nwrgroup.eu
Website: www.newworldresources.eu
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The company news service from the London Stock Exchange
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