Eldorado Gold to repay term loan, revolver using proceeds of new notes

By Rebecca Melvin

Concord, N.H., Sept. 7 – Eldorado Gold Corp. plans to repay all amounts outstanding under its existing term loan facility and revolving credit facility using proceeds of a new offering of notes, according to a 6-K filing with the Securities and Exchange Commission.

Eldorado had obtained the required consent of its lenders for the sale of the notes under its third amended and restated credit agreement dated May 13, 2019 with HSBC Bank Canada as administrative agent.

The company completed the new offering of $500 million of 6¼% senior notes due 2029 on Aug. 26.

In addition to the paydowns, the company is using the proceeds of the new notes to redeem its outstanding $234 million of 9½% senior secured second-lien notes due June 2024 on Sept. 9.

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

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