Yamana Gold draws $200 million on revolver as precautionary measure

By Marisa Wong

Los Angeles, April 30 – Yamana Gold Inc. announced it drew down $200 million of its $750 million revolving credit facility as a precaution due to uncertainty arising from the Covid-19 pandemic.

Yamana said it has no plans to use the borrowed funds.

Due to a scheduled debt repayment of $56.2 million in the first quarter, total debt increased by only $144.4 million with the drawdown, according to a company news release.

As of March 31, the company had cash and cash equivalents of $323.2 million. Including funds from a partial disposal of its shares in Equinox Gold that occurred on April 15, the company had over $400 million in cash and cash equivalents on a pro-forma basis at the end of the quarter.

The company noted that it has no pending scheduled debt repayments or significant capital commitments, with its next scheduled debt repayment due in March 2022.

Yamana Gold is a Toronto-based gold producer.

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