Red Eagle Mining starts restructure

Red Eagle Mining starts restructure

Corporate & Sovereign Strategy Project & Infrastructure Finance Colombia Canada

Canada's Red Eagle Mining has commenced a restructuring to help it repay debt and fund working capital at the Santa Rosa gold project in the Colombia's department of Antioquia. Red Eagle said it will retire its $60m credit facility with Orion Mine Finance and Liberty Metals & Mining Holdings and settle for $28m cash and $15m in equity. Annibale, owners of 9.5% of Red Eagle Mining, will backstop a $38m private placement in gross proceeds. The mining firm said it will also write off all accrue

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