Randgold Resouces enters 200m dollar credit facility

published 20 May 2013

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.