RRS 0.00% 0.1¢ range resources limited

Aug 3 (Reuters) - Range Resources Ltd (RRS) Has received...

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    Aug 3 (Reuters) - Range Resources Ltd (RRS)

    • Has received notification from landocean that it entered into short-term factoring arrangement with huayuan commercial factoring & sichuan xw bank co
    • Landocean has provided range with guarantee and indemnity to ensure that range does not have to pay any party (either landocean or factor)
    • Factoring arrangement has maturity date of 30 April 2018
    • Factoring arrangement maturity date results in mismatch between maturity date by when landocean require to repay factor & due date for payment by range of amounts due
    • Landocean further indemnifies range to ensure that range is only liable to pay no later than april 2020
 
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