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R1.335 billion increase to the revolving credit facility
NORTHAM PLATINUM HOLDINGS LIMITED NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa
Registration number: 2020/905346/06 Registration number: 1977/003282/06
JSE share code: NPH ISIN: ZAE000298253 JSE debt issuer code: NHMI
("Northam Holdings" or, together with its subsidiaries, Bond code: NHM015 Bond ISIN: ZAG000164922
"Northam" or the "Group") Bond code: NHM016 Bond ISIN: ZAG000167750
Bond code: NHM021 Bond ISIN: ZAG000181496
Bond code: NHM022 Bond ISIN: ZAG000190133
Bond code: NHM023 Bond ISIN: ZAG000190968
Bond code: NHM025 Bond ISIN: ZAG000195934
Bond code: NHM026 Bond ISIN: ZAG000195942
("Northam Platinum")
R1.335 BILLION INCREASE TO THE REVOLVING CREDIT FACILITY
Northam is pleased to announce that it has successfully concluded and implemented an agreement to increase its
existing revolving credit facility ("RCF") from R10.0 billion to R11.335 billion ("RCF Increase"). The RCF matures in
August 2027 and this date as well as the remaining material terms and conditions pertaining to the RCF remain
unchanged.
As a result of the RCF Increase, Northam's total available banking facilities now amount to R12.335 billion, comprising
the increased RCF of R11.335 billion and existing general banking facilities of R1.0 billion ("Banking Facilities").
Northam has proactively implemented the RCF Increase to further enhance its liquidity position and balance sheet
flexibility in light of the current depressed platinum group metals ("PGM") pricing environment and in the event that these
circumstances prevail for a sustained period of time.
The availability and amount of the Banking Facilities, which remain fully undrawn and available, in addition to Northam's
cash on hand of c. R7.5 billion as at 30 June 2024, also provide Northam with the flexibility to continue settling
Domestic Medium Term Notes ("DMTNs") as and when they mature. For the year ended 30 June 2024, Northam
significantly decreased its outstanding debt through the settlement of DMTNs with a nominal value of c. R4.3 billion,
upon these maturing in the ordinary course. For the current financial year ending 30 June 2025, c. R4.2 billion of DMTNs
will mature in the ordinary course.
Net debt as at 30 June 2024 amounted to R3.1 billion.
Alet Coetzee, Northam's Chief Financial Officer, said "The RCF Increase provides Northam with additional liquidity
and balance sheet flexibility in line with the group's continued focus on proactively and prudently managing these
aspects during the current depressed PGM pricing environment. Northam remains appreciative of the continued support
and additional commitment from its consortium of lenders."
Johannesburg
30 August 2024
Corporate Advisor and Sponsor to
Northam Holdings
One Capital
Corporate Advisor and Debt Sponsor to
Northam Platinum
One Capital
Attorneys to Northam Holdings and
Northam Platinum
Webber Wentzel
Global Coordinator and Facility Agent
in respect of the RCF
Nedbank Limited (acting through its Nedbank Corporate
and Investment Banking division)
Date: 30-08-2024 07:08:00
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