African Barrick Gold plc announced that it has concluded negotiations with a Standard Bank-led syndicate of commercial banks for the provision of an export credit backed term loan facility for $142 million. African Barrick noted that the facility has been put in place to fund the bulk of the costs of the construction of one of its key growth projects, a new Carbon in Leach circuit at the process plant at Bulyanhulu. The facility is secured upon the project, has a term of seven years and when drawn the spread over Libor will be 250 basis points.
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- African Barrick Gold Secures $142 Million Financing for Bulyanhulu Plant Expansion