Goldcorp increases credit facility by $1 billion, extends term

By Wendy Van Sickle

Columbus, Ohio, June 11 – Goldcorp Inc. has increased its credit facility to $3 billion from $2 billion and extended its term to June 10, 2020, the company announced in a press release Thursday.

Borrowings on the unsecured facility bears interest at Libor plus 120 basis points, based on Goldcorp’s BBB+ rating.

Goldcorp said it plans to use the facility for liquidity and general corporate purposes.

BMO Capital Markets, Canadian Imperial Bank of Commerce and Bank of Nova Scotia are lead arrangers and bookrunners, BMO Capital Markets is administrative agent, Canadian Imperial Bank of Commerce and Bank of Nova Scotia are syndication agents and Royal Bank of Canada, Toronto-Dominion Bank, HSBC Bank USA, NA and Export Development Canada are documentation agents.

The gold producer is based in Vancouver, B.C.

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