London, United Kingdom, 28 December 2016 –Nord Gold SE (“Nordgold” or the “Company”, LSE: NORD) the internationally diversified gold producer, is pleased to announce that it has entered into a 3-year facility agreement with ING Bank N.V. in the amount of US$150 million.
Nordgold intends to use the proceeds for general corporate purposes, including financing capital expenditure and/or the refinancing of its existing debt facilities.
“We are pleased to have secured this facility on attractive terms, testament both to our long term track record and positive outlook. Nordgold remains a consistent free cash flow generator and has an exciting pipeline of low capital intensity development opportunities. In September this year we launched our new Bouly mine in Burkina Faso, which had already hit its nameplate capacity by November and is set to make a substantial contribution to the Group next year and beyond. We have made a solid progress on our development portfolio, with continuing construction of our new Gross project, while we have also consolidated our ownership positon in the promising Pistol Bay project in Canada. The agreement with ING further boosts our financial strength and we look forward to announcing further progress on our development projects in due course.” Nikolai ZelenskiChief Executive Officer of Nordgold
As at 30 September 2016 Nordgold’s total debt was US$871.3 million with net debt of US$559.7 million.
Nordgold
Valentina Bogomolova
Head of IR
Tel: +7 495 644 4473
Olga Ulyeva
Head of Media Relations
Tel: +7 495 644 4473
Powerscourt
Peter Ogden
Giles Read
Tessa Berry
Tel: +44 (0) 20 7250 1446
