Centerra Gold Inc. has announced it has entered into a new US$400 million 4-year revolving credit facility plus a US$200 million accordion feature (the credit facility). The credit facility is led by The Bank of Nova Scotia, National Bank Financial Markets and HSBC Canada Bank and is supported by a syndicate of international financial institutions. The interest rate payable on any outstanding borrowings is LIBOR plus 2.25% to 3.25%. The credit facility replaced Centerra’s previous US$500 million revolving credit facility.
The credit facility is currently undrawn and may be used for general corporate purposes, including working capital, investments, acquisitions, and capital expenditures. The credit facility provides future flexibility, while reducing the company’s financing costs as the company’s cash position continues to grow.
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