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BRIEF-Torex completes US$400 mln facility to refinance project debt

Published 2017-07-26, 06:24 a/m
© Reuters.  BRIEF-Torex completes US$400 mln facility to refinance project debt
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July 26 (Reuters) - Torex Gold Resources Inc TXG.TO

* Torex Gold Resources - unit has signed an amended and restated credit agreement with BNP Paribas (PA:BNPP), Commonwealth Bank Of Australia, other bookrunners

* Torex Gold Resources - following a successful syndication, BMO Harris Bank N.A. and bank of Nova Scotia joined banks as lenders under loan facility

* Torex Gold Resources Inc - loan facility is comprised of a us$300 million term loan and a us$100 million revolving loan facility

* Torex Gold Resources - loan facility bears interest at rate of libor + 4% for first 2 years, libor + 4.25% for years 3 and 4, and libor + 4.5% thereafter

* Torex Gold Resources Inc - revolving facility and term facility will mature June 30, 2020 and June 30, 2022, respectively

* Torex Gold Resources - first scheduled repayment of term facility is March 31, 2018, and repayments continue in quarterly installments until maturity

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