Alamos Gold Announces Increase in Credit Facility to US$500 Million
18 Diciembre 2019 - 4:00PM
Alamos Gold Inc. (
TSX:AGI;
NYSE:AGI) (“Alamos” or the “Company”) today announced that
it has secured amendments to its existing undrawn revolving credit
facility (the “Facility”) including an increase in the size of the
Facility from US$400 million to US$500 million on more favourable
terms.
The Company will benefit from improved pricing under the amended
Facility, including undrawn fees of 0.42% and drawn fees of LIBOR
plus 1.875% at its current leverage ratio. This is down from
undrawn fees of 0.45% and drawn fees of LIBOR plus 2.00% under the
previous credit facility. The Facility remains undrawn and the
Company debt free with cash and cash equivalents of US$186 million
as of September 30, 2019. The maturity date of the Facility has
been extended to December 17, 2023. “The increase in our
facility on more attractive terms is a reflection of the increased
scale of Alamos as well as our strong operating and financial
outlook. Combined with our existing cash, this further strengthens
our financial flexibility with no debt and nearly US$700 million of
available liquidity,” said Jamie Porter, Chief Financial
Officer.
The amended Facility was joint-led by the Bank of Nova Scotia,
BMO Capital Markets, and TD Securities. Additionally, the syndicate
includes the Canadian Imperial Bank of Commerce, National Bank of
Canada, and ING Capital LLC.
About Alamos
Alamos is a Canadian-based intermediate gold producer with
diversified production from three operating mines in North America.
This includes the Young-Davidson and Island Gold mines in northern
Ontario, Canada and the Mulatos mine in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of
development stage projects in Canada, Mexico, Turkey, and the
United States. Alamos employs more than 1,700 people and is
committed to the highest standards of sustainable development. The
Company’s shares are traded on the TSX and NYSE under the symbol
“AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons |
|
Vice President, Investor Relations |
|
(416) 368-9932 x 5439 |
|
All amounts are in United States dollars, unless otherwise
stated.
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.
Cautionary Note
This news release includes certain statements
that constitute forward-looking information within the meaning of
applicable securities laws ("Forward-looking Statements"). All
statements in this news release, including statements regarding
potential future purchases by Alamos of its Common Shares pursuant
to the NCIB, other than statements of historical fact, which
address events, results, outcomes or developments that Alamos
expects to occur are Forward-looking Statements. Forward-looking
Statements are generally, but not always, identified by the use of
forward-looking terminology such as "expects", is “expected",
"anticipates", "plans" or “is planned”, “trends”, "estimates",
"intends" or “potential” or variations of such words and phrases
and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved or the negative connotation of such
terms.
Alamos cautions readers not to place undue
reliance on the forward-looking statements in the information and
content on this news release as a number of factors could cause
actual future results, conditions, actions or events to differ
materially from the targets, outlooks, expectations, goals,
estimates or intentions expressed in the Forward-looking
Statements. These factors include, but are not limited to: changes
in the financial markets, changes in applicable laws and
governmental regulations, fluctuations the price of gold,
fluctuations in relative currency values, risks related to
obtaining and maintaining necessary permits and the
unpredictability of and fluctuation in the trading price of the
Company’s common shares,
Additional risk factors and details with respect
to risk factors affecting the Company are set out in the Company’s
latest Annual Information Form and MD&A, each under the heading
“Risk Factors”, available on the SEDAR website at www.sedar.com or
on EDGAR at www.sec.gov. The foregoing should be reviewed in
conjunction with the information found in this news release.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether written or oral, or
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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