Successful Extension of Revolving Credit Facility

RNS Number : 2771E

Resolute Mining Limited

10 March 2022

 

10 March 2022

Resolute Mining Limited

(Resolute or the Company)

Successful Extension of Revolving Credit Facility

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to announce that the Company has agreed on commercial terms with its financiers to extend its Revolving Credit facility (RCF) for an additional 12 months to March 2024, with an amended amortisation profile.

As part of extending the RCF, a review of the structure and tenure of the Group's debt facilities has also been undertaken. Under the refinancing agreed with syndicate lenders, the RCF maturity will be extended to the end of March 2024 (previously due in March 2023), with the following amended repayment schedule:

• $30 million in August 2022 upon receipt of the third tranche of the Bibiani sale consideration;

• $20 million in January 2023;

• $20 million in March 2023 in line with the original RCF maturity date; and

• the final $80 million in March 2024.

There are no changes to the $150 million Term Loan Facility, with amortisation remaining in line with the previous biannual repayment schedule (each March and September).

The refinancing is subject to conditions precedent that are customary for a refinancing of this nature.

Resolute's Chief Executive Officer, Mr Stuart Gale commented: "I would like to thank the lending syndicate who continue to demonstrate ongoing support to Resolute. I am confident the underlying financial performance of the business will continue to improve, with the aim to reduce gearing levels over the near term."

 

For further information, contact:

Resolute James Virgo, GM Finance and Investor Relations [e-mail] [phone] Media  C ameron Morse, FTI Consulting [e-mail] [phone]

Public Relations Jos Simson, Tavistock [e-mail] [phone] Oliver Lamb, Tavistock [e-mail] [phone] Corporate Broker Matthew Armitt, Berenberg Detlir Elezi, Berenberg [phone]

A full PDF version of the announcement is available from the Company's website: link to announcement.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via a Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

Authorised by Mr Stuart Gale, Chief Executive Officer

 

END

 

 

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