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| Home : Alderon Provides Project Financing Update |
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Aug 21
2014 |
Alderon Provides Project Financing Update |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2014) - Alderon Iron Ore Corp. (TSX:ADV)(NYSE MKT:AXX) ("Alderon" or the "Company") announces an update on the progress of its financing plan for the Kami Project. Alderon and BNP Paribas ("BNP") have mutually agreed to terminate the engagement of BNP Paribas as lead arranger of the senior debt financing facility for the construction of the Kami Project. Alderon has appointed Endeavour Financial Limited (Cayman) ("Endeavour Financial") to act as its financial advisor with respect to the project financing process and intends to form a club syndicate of international banks to provide the senior debt financing facility. The process with BNP identified a number of domestic and international banks, including Chinese banks, that provided letters confirming their interest in participating in the senior debt financing facility. The termination of BNP's engagement will allow the Company to move forward in forming this club syndicate of banks, with the assistance of Endeavour Financial. |
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| Source:http://www.marketwired.com/mw/release.do?id=1940247&sourceType=3 |
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