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Press release from CNW Group

Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility

Monday, February 04, 2013

Mirabela Nickel Ltd. - Revised repayment terms on US$50M debt facility23:13 EST Monday, February 04, 2013PERTH, Australia, Feb. 5, 2013 /CNW/ - Mirabela Nickel Limited ("Mirabela" or the "Company") (ASX: MBN, TSX: MNB) is pleased to announce that it has successfully negotiated revised repayment terms on its US$50 million debt facility with Banco Bradesco S.A. ("Bradesco").The revised repayment terms are:January 2014    US$ 16.7 millionJuly 2014     US$ 16.7 millionDecember 2014    US$ 16.6 millionInterest remains payable bi‐annually at a rate of LIBOR plus 6%. The loan is unsubordinated and secured by a Guarantee from Mirabela Nickel Ltd and a fiduciary assignment on the Votorantim receivables.  These terms are unchanged.During January 2012, the Company's Brazilian subsidiary, Mirabela Mineração Ltda, entered into the US$50 million, 35 month working capital facility with Bradesco. The principal was originally repayable in instalments split 50% in month 12, and the remainder in equal instalments in months 24, 30 and 35. SOURCE: Mirabela Nickel Ltd.For further information: Chris Els Chief Financial Officer & Company Secretary Telephone: +61 439 930 333  John Stamopoulos General Manager Commercial Telephone: +61 406 424 916