Gindalbie locks in $US1.2b loan facility

EMERGING Mid West iron ore producer Gindalbie Metals has taken another step towards completing the debt funding arrangement for its Karara project development after signing a $US1.2 billion ($A1.29 billion) mandate letter and time sheet loan facility with two Chinese banks.

Gindalbie locks in $US1.2b loan facility Gindalbie locks in $US1.2b loan facility Gindalbie locks in $US1.2b loan facility Gindalbie locks in $US1.2b loan facility Gindalbie locks in $US1.2b loan facility

Conditions of the agreement and loan are expected to be finalised in time to meet the first required debt drawdown by June 30.