OceanaGold refinances with $200 million four-year revolver

By Marisa Wong

Los Angeles, Dec. 15 – OceanaGold Corp. said it refinanced its revolving credit facility with a new facility supported by a group of seven international banks, five of which were part of the previous revolving credit facility.

The new facility provides committed bank credit totaling $200 million, plus a $50 million accordion, replacing the previous facility, according to a press release.

The new facility, which matures Dec. 31, 2027, has improved commercial terms compared with the previous facility, the company said.

Chief financial officer Marius van Niekerk commented in the release, “[The new facility] allows us to maintain significant financial flexibility at a lower cost. The new facility right-sizes our liquidity requirements in line with our capital management plan, which recognizes both our projected growth in production and exciting organic growth pipeline.”

OceanaGold is a Vancouver, B.C.-based gold and copper producer with mines in the United States, the Philippines and New Zealand.

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