Kinross Gold lines up $1 billion three-year term loan

By Wendy Van Sickle

Columbus, Ohio, March 7 – Kinross Gold Corp. arranged a new $1 billion three-year term loan, according to a news release.

Bank of Nova Scotia, HSBC Bank Canada and RBC Capital Markets are the lead arrangers.

The loan has no mandatory payments and has a flexible repayment schedule, the company said. It will mature on March 7, 2025.

Proceeds will be used to repay amounts drawn under the company’s $1.5 billion revolver credit facility in connection with the closing of its acquisition of Great Bear Resources Ltd.

Kinross is a Toronto-based gold mining company.

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