News

Advanced Search

Tiffany, Diamcor Agree Loan Deferral, Maturity Extension

Jan 24, 2016 11:18 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Tiffany & Co. Canada, a subsidiary of New York-based retailer Tiffany & Co., has agreed to defer payments and extend the maturity date of financing arrangements with rough supplier Diamcor Mining.

Tiffany & Co. Canada gave Diamcor financing to advance the Krone-Endora at Venetia Project as part of an alliance under which the retailer has first right of refusal to buy up to 100 percent of future production of rough diamonds from the South African mine, according to a Diamcor statement January 20.

Interest will continue to accrue on the outstanding balances of the financial facilities during the six-month period of the deferrals and extension. Payments of principle and interest will commence again on July 20, 2016.
Tags: Diamcor Mining, finance, mining, Rapaport News, Rough Diamonds, Tiffany & CO., Tiffany & Co. Canada
Similar Articles
Banking on DiamondsBanking on Diamonds
Jun 08, 2021
In both financial and diamond industry terms, 2017 seems like an eternity ago. Bankers at the Dubai
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.