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(Alliance News) - Resolute Mining Ltd on Friday said it has refinanced debt arrangements, revealing a new USD300 million facility.
The facility refinances a USD63 million secured project loan from lenders Taurus Funds Management Ltd and it will also replaced USD195 million in existing senior bank debt facilities.
The new financing consists of a USD150 million three-year revolving credit facility, and a four-year USD150 million term loan.
Interest payable on balance drawn is LIBOR plus 4.00%.
"The facility provides the company with flexible low-cost debt under terms which are highly competitive for a senior debt facility of this type," Resolute said.
Shares in the company were 8.7% higher at 41.00 pence each in London on Friday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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