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| Home : Stornoway Announces Closing of Comprehensive Financing Package to Fund Renard Through to Production |
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Jul 08
2014 |
Stornoway Announces Closing of Comprehensive Financing Package to Fund Renard Through to Production |
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MONTREAL, QUEBEC--(Marketwired - July 8, 2014) - Stornoway Diamond Corporation (TSX:SWY)(the "Corporation" or "Stornoway") is pleased to announce that it has closed its previously announced financing transactions (the "Financing Transactions") with Orion Mine Finance, Diaquem Inc. and Ressources Québec (wholly-owned subsidiaries of Investissement Québec), and the Caisse de dépôt et placement du Québec. The Financing Transactions are intended to provide a comprehensive funding package for the construction of the Renard Diamond Project. In total C$946 million(1) has been funded, or committed for funding, through a combination of senior and subordinated debt facilities, equity issuances, an equipment financing facility with Caterpillar Financial, and the forward sale of diamonds. Taken together, these transactions represent the largest ever project financing package for a publicly listed diamond company. |
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| Source:http://www.marketwired.com/mw/release.do?id=1927659&sourceType=3 |
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