Fortune Mojapelo, CEO of Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF) (Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF)) (Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF)), discussed the restructuring of their convertible loan note with Proactive London.
The restructuring involves converting 60% of the note into a three-year term loan, worth $27 million, repayable in annual installments. Another $13.5 million will be converted into a new CLN maturing in June 2028, with an option for redemption in 2026.
Additionally, $4.5 million will be converted into shares at a premium price.
This restructuring relieves near-term balance sheet pressures, reduces dilution risk, and supports sustainable growth.
Shareholder approval is required for the completion of this refinancing, which will positively impact the company's financial position.
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