Goldcorp has entered into a $2.0 billion credit facility

Goldcorp Inc said on Wednesday it has entered into a $2.0 billion credit facility with a syndicate of 15 lenders.

The new credit facility, which replaces Goldcorp’s existing $1.5 billion facility, will be used to fund growth opportunities and for general corporate purposes, the Vancouver-based Goldcorp said.

The company said the floating rate facility is unsecured and amounts drawn are required to be financed or repaid by Nov. 23, 2016.

“This expanded credit facility enhances our overall funding flexibility as we develop our leading pipeline of gold growth projects,” Chief Financial Officer Lindsay Hall said in a statement.

Goldcorp, Canada’s No. 2 gold miner, is currently in the process of developing projects in the Dominican Republic, Argentina, Canada and Chile.

BMO Capital Markets acted as co-lead arranger, joint bookrunner and administrative agent for the facility, while Scotia Capital and Canadian Imperial Bank of Commerce acted as co-lead arrangers, joint bookrunners and syndication agents.  - Reuters

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, Goldcorp

Posted by admin on Nov 24 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry