Business
Royal Gold Enters Into a New Credit Facility With Increased Availability
DENVER, Oct. 31 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the leading publicly-traded p...
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\nDENVER, Oct. 31 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the\nleading publicly-traded precious metals royalty company, today announced that\nit has entered into a new amended and restated credit facility with the\nmaximum availability increased from US$80 million to US$125 million. In\naddition, the credit facility is now syndicated with HSBC Bank USA National\nAssociation acting as the Administrative Agent and as Sole Lead Arranger, and\nthe Bank of Nova Scotia acting as Sole Syndication Agent.\n\n\nTony Jensen, President and CEO, commented, "This revised credit facility\ngives the Company additional financial flexibility as we continue to pursue\nour growth strategy. Royal Gold currently has nearly $60 million of cash on\nhand and, with $125 million available under the revised credit facility, we\nhave access to $185 million in total liquidity. We look forward to our\ncontinued relationship with HSBC and our new association with the Bank of Nova\nScotia."\n\n\nThe term of the facility matures on October 30, 2013. Borrowings under\nthe credit facility will bear interest at a floating rate ranging from LIBOR\nplus 1.75% to LIBOR plus 2.25%. Repayment of any loans under the line of\ncredit will be secured by Royal Gold's producing royalties in Nevada and\ncertain other assets of the Company and its subsidiaries. No funds have been\ndrawn or are currently outstanding.\n\n\nAbout Royal Gold\n\n\nRoyal Gold is the leading precious metals royalty company engaged in the\nacquisition and management of precious metals royalty interests. Royal Gold\nis publicly-traded on the NASDAQ Global Select Market under the symbol "RGLD,"\nand on the Toronto Stock Exchange under the symbol "RGL." The Company's web\npage is located at http://www.royalgold.com.\n\n\nCautionary "Safe Harbor" Statement Under the Private Securities\nLitigation Reform Act of 1995: With the exception of historical matters, the\nmatters discussed in this press release are forward-looking statements that\ninvolve risks and uncertainties that could cause actual results to differ\nmaterially from the forward looking statements contained herein. Such\nforward-looking statements include the statement that additional cash\navailability under the credit facility will give the Company increased\nfinancial flexibility as it ...