Randgold Resources, the FTSE 100-listed gold miner, has entered into a 200m dollar unsecured revolving credit facility with HSBC and three other banks to be used for general corporate purposes.
The terms of the facility, which matures in May 2016, are described by the company as 'favourable', and have an interest rate of LIBOR (the rate at which London bank lend to one another) plus 1.5%.
"Funds from this corporate facility combined with our strong operational cash flow will enhance our ability to implement our growth initiatives in line with the Company's strategic plan," Randgold's Chief Executive Mark Bristow said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
-
Lloyds, Halifax and Bank of Scotland to shut another 45 branchesLloyds Banking Group, which includes Halifax and Bank of Scotland, is set to close a further 45 branches in 2024 - find out if a branch near you is closing.
-
US stock trading app Robinhood launches in the UK
The low-cost trading platform has opened another waiting list for British investors - following two failed attempts to launch in this country - and is hoping to be fully operational next year.
