Friday 24 October 2014

MART RESOURCES RAISES FUNDING OF SHELL ASSETS TO N37.2 BILLION

MART Resources has arranged to increase its existing secured term loan credit facility with Guaranty Trust Bank Plc (GT Bank) from $175 million (N28 billion) to $232.5 million (N37.2 billion).

The increased secured loan credit facility has a term of five years and bears interest at 90 days LIBOR plus four (floor of 8.25 per cent), which interest rate is unchanged from the terms of the Company’s existing facility with GT Bank.

Read more @ The Guardian


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