Exxaro Resources has completed the refinancing of its corporate facilities, extending the maturity of its debt.
In a statement on Thursday, the company said it had reached financial close on R13bn in new facilities, replacing existing funding of R10bn that was set to mature in April 2026. The refinancing was provided by a group of nine lenders, including South African banks, asset managers and international lenders.
Exxaro said the new facilities were unsecured and were concluded on terms more favourable than those of the existing funding.
The refinancing consists of a combination of term loans and a revolving credit facility, each with a five-year term and options to extend by up to two additional years, subject to approval. Interest on the facilities will be linked to prevailing market rates.
Under the new structure, the company has access to term funding that is repayable either at the end of the loan period or over time, as well as a revolving credit facility that can be drawn on as required.
These facilities also include an additional expansion option that can be accessed subject to credit approval and pre-agreed terms.
Exxaro said the refinancing will support its ongoing operations and provide funding capacity alongside its existing cash reserves.
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