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| Home : Turquoise Hill Resources Announces Short-Term Bridge Funding Agreement with Rio Tinto and Provides Oyu Tolgoi Update |
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Jun 29
2013 |
Turquoise Hill Resources Announces Short-Term Bridge Funding Agreement with Rio Tinto and Provides Oyu Tolgoi Update |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 28, 2013) - Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced that it has entered into an agreement with majority shareholder Rio Tinto for a non-revolving bridge facility for up to US$225 million (the "Bridge Facility") maturing on August 12, 2013. Advances made under the Bridge Facility will be used by Turquoise Hill to fund operations and current underground development of the Oyu Tolgoi mine. The previous bridge funding facility, agreed on April 17, 2012, expired undrawn on May 23, 2013. Turquoise Hill expects to make an initial drawdown under the Bridge Facility in order to fund a cash call obligation for Oyu Tolgoi, which is due on July 2, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1807215&sourceType=3 |
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