IAMGOLD

Iamgold Cote - Term Loan

Borrower (s)
IAMGOLD
Industry
Metals and Mining/Minor & precious metals
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
Canada

Deal Overview

IAMGOLD has entered into a five-year second lien secured term loan in a principal amount of $400 million.The second lien term loan is part of the ongoing initiatives by IAMGOLD to proactively increase the strength of its balance sheet during the construction, commissioning and ramp up of the Cote...

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IAMGOLD has entered into a five-year second lien secured term loan in a principal amount of $400 million.

The second lien term loan is part of the ongoing initiatives by IAMGOLD to proactively increase the strength of its balance sheet during the construction, commissioning and ramp up of the Cote Gold project. The construction budget and schedule of Cote Gold remains on track, with the project approximately 80% complete as of the end of March 2023.

The term loan has no mandatory requirements for gold or other forms of hedging, cost overrun reserves or cash sweeps.


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Deal Volume
$400m
Financial Close
16 May 2023

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Projects

Cote Gold Project

Greenfield
Minor & precious metals
North America
Canada
$1.3bn