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Client Work

Standard Bank of South Africa provides bridge loan financing facility for Platmin's Pilanesberg Platinum Mines project

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Overview

Client

Standard Bank of South Africa

On May 14, 2008, Platmin Limited (TSX/AIM: PPN) announced that a bridge loan facility of ZAR 350 million had been concluded with The Standard Bank of South Africa Limited ("Standard Bank"). The term of the bridge loan facility will be for a period of 4 months after financial close, which was May 9, 2008. The bridge loan facility will be used to fund the further development of Platmin's Pilanesberg project. Fasken Martineau has been appointed as counsel to the joint mandated lead arrangers, Standard Bank and Standard Chartered Bank in the overall project debt financing in relation to the Pilanesberg project (of which the bridge loan facility forms a part). Standard Bank is a leading provider of mining finance and has extensive experience in structuring and financing mining projects in South Africa. Standard Bank was recently named Best Project Finance Bank in Africa by Euromoney. Standard Bank was advised in this transaction by Fasken Martineau with a team comprising Patrick Hirsch, Thomas Wexler and Bo Crnatovic.

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