London, England — 20 May 2013 – West African-focused gold miner Randgold Resources Limited has entered into a US$200 million unsecured revolving credit facility with HSBC and three other banks.
Revealing this in a release issued here, the company said the unsecured revolving credit facility would mature in May 2016 and was intended to be used for general corporate purposes.
“Funds from this corporate facility, combined with our strong operational cash flow will enhance our ability to implement our growth initiatives in line with the company’s strategic plan,” said Randgold Resources CEO Mark Bristow.
The terms of the credit facility are favourable to the company and consistent with current market conditions. The interest rate on the credit facility is LIBOR plus 1.50% at the lower end of the leverage grid. HSBC acted as the sole book-runner on the facility with the other members of the syndicate, who consist of the banking groups of Barclays, Citibank, and Standard Chartered, acting as mandated lead arrangers.
Source: Randgold Resources. For more information, click here.