Royal Gold draws $220 million under revolver to repay convertibles

By Sarah Lizee

Olympia, Wash., June 17 – Royal Gold, Inc. borrowed $220 million under its $1 billion revolving credit facility on June 11, according to an 8-K filing with the Securities and Exchange Commission.

The proceeds were used to repay $370 million of outstanding principal plus accrued interest on its 2.875% convertible senior notes, which reached maturity on June 15.

Following the drawdown, the company has $780 million of borrowing capacity remaining under its revolver.

Royal Gold is a precious metals royalty and stream company based in Denver.

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