Alamos Gold increases revolver to $500 million, improves pricing

Chicago, Dec. 18 – Alamos Gold Inc. increased the size of its undrawn revolving credit facility, bringing it to $500 million from $400 million, and secured additional amendments, according to a company news release.

The amendments reduced undrawn and drawn fees, including lowering the undrawn fees to 42 basis points from 45 bps and the drawn fees to Libor plus 187.5 bps from Libor plus 200 bps.

The maturity date has been extended to Dec. 17, 2023.

The company is debt free and has cash equivalents of $186 million as of Sept. 30.

The amended facility was joint led by Bank of Nova Scotia, BMO Capital Markets, and TD Securities. Additionally, the syndicate includes the Canadian Imperial Bank of Commerce, National Bank of Canada and ING Capital LLC.

“Combined with our existing cash, this further strengthens our financial flexibility with no debt and nearly $700 million of available liquidity,” said Jamie Porter, chief financial officer, in a news release.

The intermediate gold producer based in Toronto.

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