W Resources Draws GBP500,000 From Bond Facility
05 August 2020 - 6:57PM
Dow Jones News
By Keith Collins
Mining company W Resources PLC said Wednesday that it drew
500,000 pounds ($654,000) from a GBP4 million convertible bond
facility to provide a financial buffer against the impact from the
coronavirus pandemic.
Chairman Michael Masterman said some of the funds would provide
working capital for W Resources' La Parrilla tungsten operation in
Spain.
The company said the tranche was drawn down from its unsecured
Atlas Capital Markets facility, which is subordinated to the
BlackRock Financial Management Inc. loan facility.
Write to Keith Collins at keith.collins@dowjones.com
(END) Dow Jones Newswires
August 05, 2020 04:42 ET (08:42 GMT)
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