Northam Platinum announces new $103 mln funding plan

JOHANNESBURG, Sept 20 Fri Sep 20, 2013 1:29am EDT

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JOHANNESBURG, Sept 20 (Reuters) - South Africa's Northam Platinum on Friday announced a new 1 billion rand ($103 million) funding plan for expansion projects.

The company said the funding programme will consist of a 600 million rand equity capital raising via a clawback offer and the implementation of a new 400 million medium term revolving credit facility.

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($1 = 9.6668 South African rand) (Reporting by Olivia Kumwenda-Mtambo; Editing by David Cowell)

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