RTTNews | Sep 10, 2020 09:37AM EDT

07:46 Thursday, September 10, 2020 (RTTNews.com) - Turquoise Hill and Rio Tinto have signed a non-binding Memorandum of Understanding concerning the long-term funding of Oyu Tolgoi. Turquoise Hill and Rio Tinto will jointly pursue the re-profiling process by engaging with Oyu Tolgoi's existing project finance lenders. The companies expect a successful re-profiling would reduce the currently-projected funding requirements of Oyu Tolgoi by up to $1.4 billion and extend political risk mitigation.

Turquoise Hill and Rio Tinto will further seek to extend political risk mitigation through the planned raising of supplemental senior debt in the form of amortizing term loans to Oyu Tolgoi in the aggregate amount of up to $500 million from selected international financial institutions.

Read the original article on RTTNews ( https://www.rttnews.com/3127570/turquoise-hill-rio-tinto-sign-mou-related-to-funding-requirements-of-oyu-tolgoi.aspx)

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