- Eldorado Gold (ELD) and its syndicate of lenders have executed a US$250 million revolving senior secured credit facility
- The revolving credit facility bears interest at LIBOR plus a margin of 2.125 per cent to 3.25 per cent
- The credit facility provides greater flexibility for the development of the company’s Kassandra assets in Greece
- Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil
- Eldorado Gold Corporation (ELD) is up 0.30 per cent, trading at C$11.87 per share at 3:20 pm ET
Eldorado Gold (ELD) and its syndicate of lenders have executed an amended senior secured credit facility.
The amended credit agreement (ARCA) consists of a US$250 million revolving senior secured credit facility with an option to increase the available credit by US$100 million.
The ARCA amends and replaces the May 2019 US$450 million senior secured credit facility.
Under the ARCA, the revolving credit facility bears interest at LIBOR plus a margin of 2.125 per cent to 3.25 per cent.
“We continue to strengthen our balance sheet and maintain a solid financial position,” said George Burns, President and CEO.
“The amended and restated senior secured credit facility provides Eldorado greater financial flexibility as we pursue a broader range of funding alternatives for the development of our Kassandra assets in Greece.”
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil.
Eldorado Gold Corporation (ELD) is up 0.30 per cent, trading at C$11.87 per share at 3:20 pm ET.
