BRIEF-Magindustries receives conditional funding commitment from China development bank for the Mengo Project

Thu Nov 21, 2013 11:36am EST
 
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Nov 21 (Reuters) - MagIndustries Corp : * Receives conditional funding commitment from China development bank for the

mengo project * Says detailed terms of the loan will be disclosed by co if and when the

definitive loan agreement is executed * Loc is a conditional commitment by cdb in favour of co's unit to arrange

syndication loan for up to $740 million with a term of 12 years * Anticipate being able to complete the negotiation of definitive documentation

in respect of loan within the first half of 2014 * Says remains largely on track with co's timeline for mengo potash project,

with construction now underway * Source text for Eikon * Further company coverage