Perth, April 03, 2023 (GLOBE NEWSWIRE) — PERSEUS REFINANCES AND UPSIZES DEBT FACILITY TO US$300 MILLION
Perth, Western Australia/April 3, 2023/African focused gold producer Perseus Mining Limited PRU is pleased to announce it has refinanced its existing syndicated debt facility to a US$300 million revolving corporate facility.
HIGHLIGHTS
- Perseus signs a US$300 million syndicated revolving corporate facility, replacing the existing US$150 million facility1
- Based on its 31 December 2022 Net Cash Position of US$405 million2,1, the refinanced facility provides Perseus with more than US$705 million of available liquidity with a three-year tenure to 31 March 2026
- Perseus expects a Final Investment Decision on its development of the Meyas Sand Gold Project in Sudan in CY2023.
The increased facility is available for general corporate purposes, subject to the satisfaction of certain customary conditions, and combined with Perseus’s 31 December 2022 net cash position of US$405 million, it provides the Company with more than US$705 million of available liquidity.
The upsized banking consortium consists of six international banks comprising Macquarie Bank Limited from Australia; Nedbank Limited (acting through its Nedbank Corporate and Investment Banking Division); Absa Bank (Mauritius) Limited; Citibank, N.A., Sydney Branch; FirstRand Bank Limited (acting through its Rand Merchant Bank Division); and Standard Bank of South Africa Limited (Isle of Man Branch).
Perseus was advised by ICA Partners Pty Limited and Minter Ellison.
Perseus’ Managing Director and CEO Jeff Quartermaine said: “Perseus is very pleased to continue to receive the strong support of a very high-quality group of international lenders at a time of significant uncertainty in global financial markets. This support is regarded as a major endorsement of the underlying quality of our assets and future cashflows.
In recent years, Perseus has successfully transformed its business to become a mid-tier, multi-mine,…
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