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Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility


Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility

PERTH, Australia, Feb. 5, 2013 /CNW/ - Mirabela Nickel Limited ("Mirabela" or the "Company") (ASX: MBN, TSX: MNB) is pleased to announce that it has successfully negotiated revised repayment terms on its US$50 million debt facility with Banco Bradesco S.A. ("Bradesco").

The revised repayment terms are:

January 2014 US$ 16.7 million

July 2014 US$ 16.7 million

December 2014 US$ 16.6 million

Interest remains payable bi‐annually at a rate of LIBOR plus 6%. The loan is unsubordinated and secured by a Guarantee from Mirabela Nickel Ltd and a fiduciary assignment on the Votorantim receivables.  These terms are unchanged.

During January 2012, the Company's Brazilian subsidiary, Mirabela Mineração Ltda, entered into the US$50 million, 35 month working capital facility with Bradesco. The principal was originally repayable in instalments split 50% in month 12, and the remainder in equal instalments in months 24, 30 and 35.

Chris Els Chief Financial Officer & Company Secretary Telephone: +61 439 930 333 shanik@mirabela.com.au  John Stamopoulos General Manager Commercial Telephone: +61 406 424 916 shanik@mirabela.com.au

SOURCE: Mirabela Nickel Ltd.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2013/04/c3084.html

CO: Mirabela Nickel Ltd. NI: MNG LOAN MNA

-0- Feb/05/2013 04:13 GMT

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