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Turquoise Hill Announces Amendment To Comprehensive Financing Arrangement With Rio Tinto

May 18, 2022•over 3 years ago
Financial Services

Description

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") today announced that the Company and Rio Tinto International Holdings Limited (“Rio Tinto”) have agreed to amend the comprehensive funding arrangement to, among other things, provide interim debt funding from Rio Tinto to address the Company’s near-term estimated funding requirements and to extend the date by which Turquoise Hill is required to raise additional equity capital.

Company Information

Company

Turquoise Hill Resources

About

If the Re-profiling and SSD funding contemplated by the 3rd A&R HoA are not wholly successful, or the principal repayment of US$362 million under the OT Project Financing is required to be made on December 15, 2022 the Company would require additional equity financing which would be incremental to estimated equity raising of US$1.05 billion previously disclosed in Q2’22.The Company’s incremental funding requirement, and quantum and timing of any incremental equity raises, continue to be impacted by various factors, many of which are outside of its control and, as a result, their actual quantum and/or timing could be different from the estimates provided and such variance may be significant.