OZ Minerals gets $140m bridging facility

Debt-laden OZ Minerals Ltd has secured a $140 million bridging finance facility that
is repayable when it terminates at the end of next month.
The company is seeking to refinance $1 billion of debt by February 27 as its cash on
hand dwindles.

"OZ Minerals is working to achieve a refinancing of its debt facilities by 27
February 2009 with the agreement of its lenders and, in that context, is actively
pursuing both an asset sales program and other initiatives," the company said.
"Proceeds from the bridging facility are principally available to be used to cover
expected short-term cash requirements in respect of the company's operations and
projects at Golden Grove (WA), Prominent Hill (SA) and Martabe (Sumatra)."
OZ Minerals said the bridging facility will be provided by all of its 'Facility A'
lenders.
Facility A was drawn to $US420 million at December 10 and matures on February 27.