Lynas Corporation Limited’s (ASX:LYC) attempts to restructure its existing senior debt facility with Nomura have hit a hurdle.
The rare earths producer has decided to cease negotiations with Nomura regarding a novation and amendment of the facility.
Lynas says it remains engaged with existing and potential financiers and investors concerning a restructure of its existing debt facilities, potential additional facilities and other investment opportunities.
The company advises each of these alternatives will require the consent of the existing senior financier with whom the company continues to be engaged in constructive talks.
Lynas Corporation widened its net loss to $59.3 million in the first half of the 2014 financial year.
