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Iamgold increases credit facility

Early construction at
IAMGOLD’s Essekane
plant site in
Burkina Faso
 
Toronto, Canada — MININGREVIEW.COM — 29 March 2010 – IAMGOLD Corporation “’a leading mid-tier gold mining company listed on the Toronto and New York stock exchanges “’ has announced that it has increased its US$140 million (R1 billion) secured revolving credit facility to a US$350 million (R2.5 billion) unsecured revolving credit facility.

Making the announcement here, the company said the increased facility, which would expire in March 2013, gave Iamgold better financial capacity under improved terms and conditions. It was led and arranged by Scotia Capital, Societe Generale and the Canadian Imperial Bank of Commerce.

IAMGOLD also revealed that it would enter into a US$50 million (R375 million) facility, supported by Export Development Canada, which would allow for the issuance of letters of credit in support of certain asset retirement obligations of the company.

IAMGOLD has mines in Suriname, Canada, Botswana, Mali and Ghana, and is scheduled to start up a new operation “’ Essakane, in Burkina Faso “’ in August.

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