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Eldorado Gold Announces Execution of Senior Secured Credit Facility

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Eldorado Gold Announces Execution of Senior Secured Credit Facility

 

 

 

 

 

Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) is pleased to announce that, further to the Company’s press release of earlier today entitled “Eldorado Gold Announces New Senior Secured Credit Facility”, the Company and its syndicate of lenders have now fully executed a US$450 million amended and restated senior secured credit agreement in respect of a US$450 million Senior Secured Credit Facility. The Facility will replace the Company’s existing revolving credit facility established by HSBC Bank Canada and certain lenders and will become effective upon completion of customary conditions. All terms of the Facility remain as outlined in the Company’s prior press release, and completion of conditions precedent is expected on or prior to the completion of the Company’s senior secured second-lien notes announced earlier today.

 

Proceeds from the term loan under the Facility and the Company’s secured second-lien notes offering, together with other proceeds, will be used to redeem the Company’s existing 6.125% Senior Notes due December 2020.   With the expected increase in free cash flow from Kisladag from the resumption of heap leaching and Lamaque now in commercial production, the Company expects to use such cash flow in part to repay the Term Loan in full.

 

About Eldorado Gold

 

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, Serbia, and Brazil.  The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities.  

Posted May 13, 2019

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