This article is 13 years old. Images might not display.
Cockatoo said the facility will support development of the company’s coal assets and the associated infrastructure requirements.
As part of Macquarie’s fee, Cockatoo will issue 20.83 million options to the bank.
These can each acquire one fully paid ordinary share in Cockatoo at 64c per share, and can be exercised at any time up to December 31, 2013 – the maturity date of the finance facility.
Cockatoo owns 62.5% of the Baralaba open cut mine on the southeastern arm of Queensland’s Bowen Basin, and aims to ramp up pulverised coal injection coal production to 2.8 million tonnes per annum by 2014.
Outside of the company’s suite of Surat Basin coal projects in Queensland, it also owns 30% of the Hume underground project in the Southern Highlands of New South Wales, and a call option for a 30% stake in the Bylong thermal coal project in the state.
Macquarie Capital became a material shareholder of underground communications specialist Mine Site Technologies in March.
Macquarie was also part of a bid for the 99-year lease of the Abbot Point Coal Terminal.
Adani Group subsidiary Mundra Port and Special Limited won the ABCT lease last week for $A1.83 billion.
Cockatoo shares are up half a cent to 49.5c this morning.
