November 7, 2019 / 1:12 PM / 10 days ago

BRIEF-Katanga Mining Announces Rights Offering Backstopped By Glencore To Fund Debt Repayment

Nov 7 (Reuters) - Katanga Mining Ltd:

* KATANGA MINING ANNOUNCES RIGHTS OFFERING BACKSTOPPED BY GLENCORE TO FUND DEBT REPAYMENT

* KATANGA MINING LTD - COMPANY TO RAISE AN ESTIMATED CDN$7.6 BILLION UNDER DISCOUNTED RIGHTS OFFERING

* KATANGA MINING LTD - GLENCORE TO PROVIDE FULL STANDBY COMMITMENT

* KATANGA MINING LTD - US$5.8 BILLION IN DEBT OWED TO GLENCORE TO BE REPAID

* KATANGA MINING LTD - APPROXIMATELY US$1.5 BILLION RESIDUAL DEBT TO GLENCORE TO REMAIN OUTSTANDING UNTIL 2023

* KATANGA MINING LTD - GLENCORE IS NOT COMMITTING ANY NEW MONIES TO KATANGA AS A RESULT OF RIGHTS OFFERING Source text for Eikon: Further company coverage:

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