Diversified mining company Kumba Resources has sought proposals from its closest banks for a $125m three year amortising term loan. According to bankers, the loan will be priced off the $125m three year term loan signed for the Industrial development Corporation of South Africa (IDC) which was signed in March 2002.
That loan offers a margin of 85bp over Libor and a top ticket of $10m provides an upfront fee of 45bp.
Kumba was unbundled from the steel division of Isco last year. It specialises in iron ore and coal mining.
