Paladin Energy Ltd: Successful Refinancing of Langer Heinrich Facility

Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") is pleased to
advise it has entered into agreements with its existing lenders to refinance the
Langer Heinrich (LH) project finance facility. The facility was drawndown in
conjunction with financial close of the LH minority sale. 


Paladin has refinanced the existing US$110M project finance facility and US$20M
working capital facility into a new US$70M syndicated loan facility. Proceeds
from the LH minority sale were utilised to prepay US$30.83M of the existing
facility, taking the outstanding balance to US$70M.


This new facility will provide significant cash flow benefits and further
strengthens Paladin's financial position. As shown below, the annual principal
repayments will reduce by US$32.4M over the first 3.5 years of the facility,
from US$18.33M pa to US$9.09M pa with the first repayment of US$4.55M not due
until December 2014.


To view the figure accompanying this press release, please visit the following link:

http://media3.marketwire.com/docs/958874.pdf

The Borrower of the new facility remains Paladin Finance Pty Ltd (PFPL). The new
facility is security light with Langer Heinrich Mauritius Holdings Limited and
Langer Heinrich Uranium Pty Ltd providing no guarantees or security over the
project assets. The facility will also have a financial covenant holiday for the
first four 6-monthly calculations periods commencing 31 December 2014.


The new facility is provided by Nedbank Capital, a division of Nedbank Limited,
Nedbank Namibia Limited, the Standard Bank of South Africa Limited and Standard
Bank Namibia Limited. Both banks have been involved with Paladin since the first
LH project finance facility was established in 2006. 


Paladin Managing Director and CEO John Borshoff said: "Once again, Paladin has
been able to refinance the facility in a tough uranium price environment whilst
significantly reducing the security requirements and medium term principal
repayments. Paladin continues to focus on ways to reduce the Company's overall
debt levels and this represents another step in this process." 


ACN 061 681 098

FOR FURTHER INFORMATION PLEASE CONTACT: 
John Borshoff
Managing Director/CEO
Tel: [phone] or
Mobile: [phone]
Email: [e-mail]


Greg Taylor
Investor Relations Contact
Tel: [phone] or
Mobile: [phone] (Toronto)
Email: [e-mail]