Eldorado Gold draws $150 million under revolver as proactive measure

By Sarah Lizee

Olympia, Wash., March 30 – Eldorado Gold Corp. said it has drawn $150 million under its $450 billion revolving credit facility as a proactive measure in light of the uncertainty surrounding the Covid-19 pandemic.

The company has no immediate need for the funds, however proceeds will be used for general corporate purposes, as required, according to a press release.

Eldorado Gold also said it is reviewing its 2020 sustaining and growth capital budget and will reduce expenditures if required.

Interest on the revolver is Libor plus 225 basis points to 325 bps, based on leverage.

Eldorado Gold is a Vancouver, B.C.-based gold producer.

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