Daily News: November 25, 2019

Scotiabank, Citi, Others Amend OceanaGold Revolver


OceanaGold has amended its existing $200 million revolving credit facility with its banking partners: Scotiabank, Citi, HSBC, Commonwealth Bank of Australia, Natixis and BNP Paribas.

The key changes include the elimination of the 2019 amortization or “step-down,” with the facility remaining at $200 million, combined with an extension of the facility now maturing in December 31, 2021. All other conditions remain unchanged and repayment of any drawn amount prior to maturity remains at the company’s discretion.

“The amendments to the credit facility reflect the strong confidence that our lenders have in our business. We are pleased to extend our long-standing partnership with our multinational bank group, the majority of whom have partnered with OceanaGold for many years,” said Mick Wilkes, president and CEO of OceanaGold.