July 24 (Reuters) - Largo Resources Ltd LGO.TO :
* Largo Resources Ltd announces a non-binding term sheet in respect of the restructuring and conversion of existing debt facilities with Banco Pine
* Largo Resources- co, lender anticipate agreement to provide for conversion of full outstanding amount under usd facility into common shares of Largo
* Largo Resources Ltd- it is expected that, upon conversion of debt to common shares, lender will enter into a lock-up agreement
* Largo Resources - conversion of existing $4.4 million credit facility between co , lender into shares of largo to be issued within 60 days from date of deal
* Largo - proposed arrangement includes renegotiation of repayment schedule for existing brl $89.1 million credit facility between vanádio & lender
* Largo Resources - payment schedule for brl facility to be amended to allow vanádio up to 290 days from execution to pay $8.5 million towards outstanding amount
* Largo-upon fulfilment of initial payment, expected that remaining amount outstanding under brl facility will be refinanced through new loan agreement