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Tharisa - enhances trade finance facilities
Tharisa announced that it has secured new trade finance facilities, from its existing bankers, designed to provide greater flexibility, improve working capital efficiency, and enhance the Group's global trading capabilities.
Arxo Resources Ltd., the wholly owned trading subsidiary of Tharisa has negotiated improved unsecured, revolving trade finance facilities, with The Hongkong and Shanghai Banking Corporation Ltd. (HSBC) providing USD30m and Absa Bank Ltd. (acting through its Corporate & Investment Banking division) providing USD15m with an accordion of USD15m. These facilities provide for both pre- and post-shipment finance.
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