LON - Lonmin Plc - New Bank Facilities

LON - Lonmin Plc - New Bank Facilities                                          
Lonmin Plc (Incorporated in England and Wales)                                  
(Registered in the Republic of South Africa under registration number           
1969/000015/10)                                                                 
JSE code: LON                                                                   
Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin")                              
6 July 2011                                                                     
Lonmin Plc                                                                      
New Bank Facilities                                                             
Lonmin is pleased to announce that it has reorganised its bank debt facilities  
and replaced the existing $875 million bank debt facilities with new facilities 
totalling approximately $1 billion. The new facilities extend the maturity      
profile of Lonmin`s debt, with $850 million of the new facilities being         
committed for five years. The new facilities consist of a $700 million          
syndicated US Dollar facility and three South African Rand bilateral facilities 
of R660 million each.                                                           
The $700 million syndicated facility is comprised of a $300 million five-year   
term facility and a five-year committed $400 million revolving credit facility. 
The facility will be used to support the longer term capital requirements of the
Group. The new facility consolidates all of Lonmin`s US Dollar debt within      
Lonmin Plc and improves the pricing, credit margins and covenants. In addition, 
Lonmin has entered into a floating to fixed interest rate swap on the term      
component of the debt. This fixes the base rate in respect of $300 million of   
the facility for the next five years. The facility has been supported by BNP    
Paribas S.A., Citigroup Global Markets Limited, HSBC Bank Plc, J.P. Morgan      
Limited, Lloyds TSB Bank Plc, The Royal Bank of Scotland N.V. and Standard      
Chartered Bank.                                                                 
The three R660 million bilateral facilities are at the Western Platinum Limited 
level, the operating company and will be used for day-to-day working capital    
requirements. The facilities are of a revolving credit nature and in total      
consist of R990 million in five year committed facilities and R990 million in   
one year committed facilities that can be rolled annually. The new facilities   
improve the pricing, credit margins and covenants in respect of the Rand bank   
debt. The facilities have been supported by FirstRand National Bank, Investec   
Bank Limited and The Standard Bank of South Africa Limited.                     
Simon Scott, Chief Financial Officer of Lonmin Plc, said: "Lonmin`s restructured
bank debt facilities significantly improve the cost of funding for Lonmin,      
improve the maturity profile of its debt and demonstrate the strong support that
Lonmin is receiving from the banking sector. Together, these will assist Lonmin 
in growing its business and in particular in reaching its target of 950,000     
ounces in Platinum production per annum by 2015."                               
ENQUIRIES:                                                                      
Investors / Analysts:                                                           
Tanya Chikanza                               +27 (0) 11 218 8300                
Head of Investor Relations                                                      
Media:                                                                          
Cardew Group                                 +44 (0) 20 7930 0777               
Rupert Pittman / Emma Crawshaw                                                  
Financial Dynamics                           +27 (0) 21 487 9000                
Dani Cohen / Sue Vey                                                            
Date: 06/07/2011 11:00:02 Supplied by www.sharenet.co.za                     
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