Jervois Global's financial strategy update

Jervois Global (ASX:JRV) has announced the securing of an additional US$24.5 million under its Jervois Finland Working Capital Facility. This move raises the Term Loan limit to US$32.0 million, with a portion already utilized. The funds are aimed at supporting restructuring and financial stability, with certain conditions attached.

Key points and future outlook

Jervois Global has strategically increased its Term Loan limit and extended the maturity date to March 31, 2025, under its Jervois Finland Working Capital Facility. This financial adjustment aims to support the company’s restructuring efforts and budgetary needs. The overall facility limit was reduced to US$100 million, reflecting a focused financial strategy. With current senior debt at US$151.6 million and a cash balance of US$9.8 million, Jervois is negotiating waivers and seeking bondholder approvals to enhance financial flexibility. The company's forward-looking approach involves ongoing due diligence and negotiations for potential restructuring transactions, aligning with its corporate strategy to stabilize and strengthen its financial position.

Executive insights on financial adjustments

The additional funds support our restructuring and potential transactions to recapitalize our balance sheet. We are actively managing financial obligations and have extended waivers for our debt facilities and bonds.