Eldorado Gold - President and CEO, George Burns
President and CEO, George Burns
Source: El Dorado Gold
  • Eldorado Gold (ELD) and its syndicate of lenders have executed a US$250 million revolving senior secured credit facility
  • The revolving credit facility bears interest at LIBOR plus a margin of 2.125 per cent to 3.25 per cent
  • The credit facility provides greater flexibility for the development of the company’s Kassandra assets in Greece
  • Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil
  • Eldorado Gold Corporation (ELD) is up 0.30 per cent, trading at C$11.87 per share at 3:20 pm ET

Eldorado Gold (ELD) and its syndicate of lenders have executed an amended senior secured credit facility.

The amended credit agreement (ARCA) consists of a US$250 million revolving senior secured credit facility with an option to increase the available credit by US$100 million.

The ARCA amends and replaces the May 2019 US$450 million senior secured credit facility.

Under the ARCA, the revolving credit facility bears interest at LIBOR plus a margin of 2.125 per cent to 3.25 per cent. 

“We continue to strengthen our balance sheet and maintain a solid financial position,” said George Burns, President and CEO.

“The amended and restated senior secured credit facility provides Eldorado greater financial flexibility as we pursue a broader range of funding alternatives for the development of our Kassandra assets in Greece.”

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil. 

Eldorado Gold Corporation (ELD) is up 0.30 per cent, trading at C$11.87 per share at 3:20 pm ET.

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