London, 20 May 2013 - Randgold Resources Limited is pleased to announce that the Company has entered into a US$200 million unsecured revolving credit facility with HSBC and three other banks. The unsecured revolving credit facility matures in May 2016 and is intended to be used for general corporate purposes.
“Funds from this corporate facility combined with our strong operational cash flow will enhance our ability to implement our growth initiatives in line with the Company’s strategic plan,” says Randgold Resources’ CEO Mark Bristow.
The terms of the credit facility are favourable to the Company and consistent with current market conditions. The interest rate on the credit facility is LIBOR plus 1.50% at the lower end of the leverage grid. HSBC acted as the sole bookrunner on the facility with the other members of the syndicate, who consist of the banking groups of Barclays, Citibank, and Standard Chartered, acting as mandated lead arrangers.