News Column

Mirabela Nickel Limited - Interim Financing and Restructuring Update

February 12, 2014



ENP Newswire - 12 February 2014

Release date- 10022014 - Perth, AUSTRALIA - Mirabela Nickel Limited (ASX: MBN) refers to its previous announcements relating to the US$45 million loan obtained from a consortium of holders of the Company's US$395 million 8.75% Senior Unsecured Notes due 15 April 2018.

The Interim Loan is being used to provide the Company with liquidity to operate its business as discussions progress with all of Mirabela's key stakeholders regarding a comprehensive restructuring.

The Company and the lenders continue to work together to perfect the Brazilian collateral documents which secure the Interim Loan, and have agreed to extend the 7 February 2014 deadline for the perfection of this security until 12 February 2014. In addition, the Company and the lenders continue to work towards executing a definitive agreement for restructuring and recapitalising the Company by the previously announced 12 February 2014 deadline.

While the terms of a comprehensive restructuring continue to be discussed, at the date of this announcement, no binding agreements for the restructuring of Mirabela's debt obligations have been concluded nor has any opportunity or arrangement sufficiently progressed to be announced to the market. No assurance can be given at this stage that any definitive agreements or arrangements will be reached with any party that the Company may be in discussions with.

Contact:

Mirabela Nickel Ltd.

Level 21, Allendale Square

77 St Georges Terrace

Perth, Western Australia 6000

Tel: +61 8 9324 1177

Fax: +61 8 9324 2171

Email: info@mirabela.com.au


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Source: ENP Newswire


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