Perth, Australia, Nov 28, 2011 - (ABN Newswire) - Sundance Resources Limited ('Sundance' or 'the Company') (ASX:SDL) has today received formal notice from Hanlong (Africa) Mining Investment Limited ('Hanlong') that Hanlong will not receive the Highly Confident Letter
from China Development Bank due by 28 November 2011 and requests that Sundance waive the requirement for the letter as a condition precedent for Phase One of the Scheme Implementation Agreement ('SIA') which was signed by both parties on 4 October 2011.
Fursa's proposal is subject to completion of due diligence and was accompanied by a highly confident letter
from a debt financing source that is non-binding and subject to a number of conditions.
Today we went into a trading halt due to being advised by Hanlong that they will not receive the Highly Confident Letter
, which was a condition of the first phase of the Scheme, by 28 November 2011.
Shepard has provided a highly confident letter
from a respected banker for up to $300,000,000 in financing.
This "illusory" offer is backed by a highly confident letter
by a respected investment banker for up to $300,000,000 in financing.
Rick" Sommer, President and CEO of Citation, stated that among the factors considered by the Board of Directors in June when it approved the merger agreement were Kelso & Company's strong business reputation for closing transactions similar to the merger, and the receipt of the highly confident letter
addressed to the Special Committee, the Board has received a highly confident letter
from its financial advisor, Donaldson Lufkin & Jenrette Securities Corp.
Key Energy has reportedly also received a highly confident letter
from Dain Rauscher Wessels to arrange financing in the event the holders of Dawson's 9 3/8% senior notes exercise put rights triggered upon a change of control of Dawson.
Key has also received a highly confident letter
from Dain Rauscher Wessels to arrange financing in the event the holders of Dawson's 9 3/8% Senior Notes exercise certain put rights triggered upon a change of control of Dawson.
With details to be announced separately, financing for the acquisitions has been arranged through third parties who have provided highly confident letter
commitments for such financing.
2 billion bank credit facility, as well as a highly confident letter
from Goldman Sachs and Citibank for a $475 million senior subordinated debt offering to finance the cash consideration paid to Laidlaw, refinance existing Allied debt and provide for future working capital and acquisition financing requirements.
STI, as the surviving corporation, intends to raise senior debt from banks and subordinated debt from the capital markets and has entered into financing arrangements with CS First Boston which include a highly confident letter
for all of the debt financing for the transaction.