Paladin Energy Limited
(ASX:PDN) has reached agreements with its lenders to refinance the Langer Heinrich and Kayelekera project finance facilities.
The company says the agreement puts it in a much stronger financial position as annual repayments have been reduced to $US18.3 million from $US53.8 million.
Managing Director John Borshoff says the refinancing move is an important step towards strengthening the business.
He says the agreement has been achieved during a period of lower uranium prices and difficult market conditions, owing to the robust performance of Langer Heinrich.
Paladin Energy booked a net loss of $511 million in fiscal 2013.
