Goldcorp refinances with new $2 billion credit facility via 15 banks

New York, Nov. 23 - Goldcorp Inc. said it completed a $2 billion credit facility that replaces its existing $1.5 billion bank loan.

Fifteen lenders provided the new facility, including BMO Capital Markets, Scotia Capital and Canadian Imperial Bank of Commerce as joint bookrunners and lead arrangers, BMO Capital Markets as administrative agent and Scotia Capital and Canadian Imperial Bank of Commerce as syndication agents.

The new facility matures on Nov. 23, 2016.

Proceeds can be used for growth opportunities and general corporate purposes.

"Coupled with Goldcorp's excellent balance sheet and accelerating cash flows, this expanded credit facility enhances our overall funding flexibility as we develop our leading pipeline of gold growth projects," said Lindsay Hall, Goldcorp executive vice-president and chief financial officer, in a news release.

Goldcorp is a Vancouver, B.C. gold producer.

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