BRIEF-Sherritt provides update on Ambatovy JV financing and funding

Wed Jun 15, 2016 1:54pm EDT
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June 15 (Reuters) - Sherritt International Corp

* Sherritt provides update on Ambatovy joint venture financing and funding

* Ambatovy JV financing lenders, Ambatovy entered into temporary deferral agreement to defer June 15 principal repayment due date to August 5

* An agreement in principle has been reached on future principal payment deferrals

* An interest payment of US$28 million (100% basis) to the lenders was made on June 15

* Continues not to fund cash calls, while Sumitomo Corp and Korea Resources provided necessary funding for interest payment and ongoing operations Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780; )