US$20 million early debt repayment

RNS Number : 3081B

Resolute Mining Limited

09 June 2021

 

9 June 2021

Resolute Mining Limited

(Resolute or the Company)

US$20 million early debt repayment `

Resolute Mining Limited (Resolute or the Company) (ASX/LSE:RSG) is pleased to advise that it has repaid US$20 million in advance of its first scheduled debt repayment.

The voluntary early repayment reduces the Company's Revolving Credit Facility (the RCF) balance to US$130 million and lowers borrowing costs. The RCF also provides Resolute with the flexibility to redraw funds to the US$150 million facility threshold, at the Company's discretion, up until the maturity date which is currently March 2023.

A summary of the debt maturity balances following the US$20 million repayment is set out in the graph provided in the full version of the announcement at www.rml.com.au .

Resolute's first scheduled debt repayment under the Company's Term Loan facility is in September 2021. The Company's intent is to repay all Term Loan obligations through the generation of operating cashflows. Additional free cashflow may also be applied to further reduce the RCF as options to extend the maturity of this facility are assessed in accordance with the lending agreement.

Resolute's Chief Executive Officer, Mr Stuart Gale, commented on the accelerated debt repayment: "This early repayment strengthens Resolute's balance sheet and reduces ongoing borrowing costs. Our teams remain focussed on improving operational performance and with that cash generation. The flexibility of the RCF then provides us with the option to continue repaying debt ahead of maturities with operating cashflow and proceeds from potential non-core asset sales."

For further information, contact:

Resolute Stuart Gale, MD & CEO Telephone: [phone] Email: [e-mail] Web: www.rml.com.au

Berenberg (UK Corporate Broker) Matthew Armitt / Detlir Elezi Telephone: [phone] Tavistock (UK Public Relations) Jos Simson / Emily Moss / Annabel de Morgan / Oliver Lamb Telephone: [phone] Email: [e-mail] FTI Consulting (Australian media) Cameron Morse / James Tranter Telephone: [phone] Email: [e-mail]

 

 

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