Turquoise Hill Resources Receives $225 Million Debt Facility from Rio Tinto

Mining Weekly reported that Turquoise Hill Resources (TSX:TRQ, NYSE:TRQ) announced that it has received a $225 million nonrevolving bridge facility from Rio Tinto (NYSE:RIO) for Oyu Tolgoi.

As quoted in the Mining Weekly report:

Turquoise Hill pointed out that, should it default under the terms of the bridge facility, Rio Tinto would be entitled to convert any outstanding amounts into common shares at a price per share equal to 85% of the then prevailing five-day volume-weighted average trading price of the shares on the NYSE.

To view the whole Mining Weekly report, click here.