Barrick Gold - Senior Executive Vice President and CFO, Graham Shuttleworth.
Senior Executive Vice President and CFO, Graham Shuttleworth.
Source: Barrick Gold.
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  • Barrick (ABX) has extended its US$3B revolving credit facility including new ESG-linked metrics
  • The company extended the facility’s termination date by one year to May 2027
  • ESG metrics include greenhouse gas emissions, water use efficiency and injury frequency rate
  • Barrick is one of the world’s largest gold producers with mines in North America, South America, Australia and Africa
  • Barrick (ABX) is up by 4.83 per cent trading at $26.68 per share

Barrick (ABX) has extended its US$3B revolving credit facility including new ESG-linked metrics.

The amendment of the undrawn facility includes a one-year extension of the termination date to May 2027 and the replacement of LIBOR with SOFR as the floating rate mechanism.

The ESG-linked metrics involve annual environmental and social performance targets directly influenced by Barrick’s actions rather than external ratings. Performance targets include greenhouse gas emissions intensity, water use efficiency (reuse and recycling rates) and total recordable injury frequency rate.

Barrick may incur positive or negative price adjustments based on its sustainability performance.

The company’s long-term credit is rated BBB+ by S&P Global Ratings and Baa1 by Moody’s Investors Service.

“The extension of the termination date of our undrawn credit facility, combined with our strong balance sheet, highlights the current strength of Barrick’s liquidity, while the establishment of sustainability-linked metrics, along with Barrick’s recently released 2021 Sustainability Report, continues to show Barrick’s commitment to ESG,” stated Graham Shuttleworth, Barrick’s Senior Executive Vice President and CFO.

Barrick is one of the world’s largest gold producers with mines in North America, South America, Australia and Africa.

Barrick (ABX) is up by 4.83 per cent trading at $26.68 per share as of 11:37 am EST.

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