SyCipLaw advises Greenstone Resources Corporation on US$25 million prepaid gold swap facility
January 03, 2013
SyCip Salazar Hernandez & Gatmaitan ("SyCipLaw") acted as Philippine counsel to Greenstone Resources Corporation and certain affiliated companies in connection with a US$25 million prepaid gold swap facility obtained from Credit Suisse. Drawdown occurred December 2012.
The facility is repayable over a period of 30 months commencing 6 months after drawdown. The proceeds will be committed to the award of a second earthmoving contract, to various minor capital productivity and efficiency expenditures, to the payment of a loan obtained from Sprott Resource Lending Partnership, and to general working capital.
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