Further re: Short Term Loan Facility

RNS Number : 6259Q

Rurelec PLC

19 June 2015

 

19 June 2015

RURELEC PLC

("Rurelec" or "the Company")

Further re: Short Term Loan Facility

The Company announces that it has signed a bridging loan facility of US $12 million against the anticipated sales of the Peru hydro projects.  The Company has also settled terms for a one year strategic loan from a large organisation within the South American power industry.  When contracted, this will allow the Group to settle the deferred payment to IPSA Group PLC and repay other outstanding obligations.  This facility is the first stage of an intended wider cooperation with the South American company, a power generation company operating in the same field as Rurelec in Central and Latin America.

The Group expects to repay all loans from the proceeds of the sale of its Peruvian hydro portfolio, but with contingency plans for repayment from other sources if the sales are delayed.

For further information please contact:

Rurelec PLC	W H Ireland	CNC Communications
Peter Earl, CEO	Paul Shackleton and James Bavister	Ana Ribeiro Director
Tel: [phone]	Tel: [phone]	Tel: [phone]

 

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