B2Gold increased its revolving credit facility to $500 million. HSBC served as administrative agent, sole lead arranger and sole book runner.

The facility represents a $75 million increase from the initial principal amount of $425 million under the existing facility. The upsized revolving facility also allows for a $100 million accordion feature whereby upon receipt of additional binding commitments, the facility may be increased to $600 million any time prior to the maturity date.

The syndicate includes The Bank of Nova Scotia, Société Générale, ING Bank and Canadian Imperial Bank of Commerce as lenders.

The upsized RCF will bear interest on a sliding scale of between LIBOR plus 2.25% to 3.25% based on the company’s consolidated net leverage ratio.

Proceeds from the loan will be used for general corporate purposes and may be utilized to prepay or repay the subordinated notes and financing acquisitions.

Headquartered in Vancouver, B2Gold is an intermediate gold producer with projects in various countries, including Nicaragua, the Philippines, Namibia, Mali, Burkina Faso and Finland.