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BRIEF-Turquoise Hill Resources Ltd - Oyu Tolgoi signs $4.4 billion project finance marking historic milestone toward recommencement of underground development

Published 2015-12-15, 01:20 a/m
© Reuters.  BRIEF-Turquoise Hill Resources Ltd - Oyu Tolgoi signs $4.4 billion project finance marking historic milestone toward recommencement of underground development
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Dec 15 (Reuters) - Turquoise Hill Resources Ltd TRQ.TO :
* Oyu Tolgoi signs $4.4 billion project finance marking historic milestone
toward recommencement of underground development
* Turquoise Hill Resources Ltd TRQ.TO says Oyu Tolgoi LLC ( Oyu Tolgoi )
has signed a $4.4 billion project finance facility
* Facility is being provided by a syndicate of international financial
institutions,export credit agencies
* Says Rio Tinto (L:RIO) has agreed to provide a completion support undertaking in
favour of the project finance lenders
* Oyu Tolgoi,Turquoise Hill to pay Rio Tinto annual completion support fee
equal to 2.5% of amounts drawn under the facility
* Says net proceeds from the project finance facility are anticipated to be
approximately $4.1 billion
* Net proceeds from project finance facility to be used by Oyu Tolgoi to pay
down shareholder loans payable to Turquoise Hill
* Parties have agreed to a debt capacity of $6.0 billion for Oyu Tolgoi"

* Source text for Eikon ID:nMKWh5wtda

* Further company coverage TRQ.TO

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