REG - Resolute Mining Ltd - Successful Extension of Revolving Credit Facility

Resolute MiningAnnouncement

10/03/2022 07:01

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RNS Number : 2771E  Resolute Mining Limited  10 March 2022

10 March 2022

 

Resolute Mining Limited

(Resolute or the Company)

 

Successful Extension of Revolving Credit Facility

 

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to
announce that the Company has agreed on commercial terms with its financiers
to extend its Revolving Credit facility (RCF) for an additional 12 months to
March 2024, with an amended amortisation profile.

As part of extending the RCF, a review of the structure and tenure of the
Group's debt facilities has also been undertaken. Under the refinancing agreed
with syndicate lenders, the RCF maturity will be extended to the end of March
2024 (previously due in March 2023), with the following amended repayment
schedule:

•    $30 million in August 2022 upon receipt of the third tranche of the
Bibiani sale consideration;

•    $20 million in January 2023;

•    $20 million in March 2023 in line with the original RCF maturity
date; and

•    the final $80 million in March 2024.

There are no changes to the $150 million Term Loan Facility, with amortisation
remaining in line with the previous biannual repayment schedule (each March
and September).

The refinancing is subject to conditions precedent that are customary for a
refinancing of this nature.

Resolute's Chief Executive Officer, Mr Stuart Gale commented: "I would like to
thank the lending syndicate who continue to demonstrate ongoing support to
Resolute. I am confident the underlying financial performance of the business
will continue to improve, with the aim to reduce gearing levels over the near
term."

 
For further information, contact:
 Resolute                                                                   Public Relations

 James Virgo, GM Finance and Investor Relations                             Jos Simson, Tavistock

 contact@rml.com.au (mailto:contact@rml.com.au)                             resolute@tavistock.co.uk (mailto:resolute@tavistock.co.uk)

 +61 8 9261 6100                                                            +44 207 920 3150

                                                                            Oliver Lamb, Tavistock

 Media                                                                      resolute@tavistock.co.uk (mailto:resolute@tavistock.co.uk)

 Cameron Morse, FTI Consulting                                              +44 778 855 4035

 cameron.morse@fticonsulting.com (mailto:cameron.morse@fticonsulting.com)

 +61 433 886 871                                                            Corporate Broker

                                                                            Matthew Armitt, Berenberg

                                                                            Detlir Elezi, Berenberg

                                                                            +44 20 3207 7800

 

A full PDF version of the announcement is available from the Company's
website: link to announcement.
(https://clients3.weblink.com.au/pdf/RSG/02497472.pdf)

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 which forms part of UK law pursuant
to the European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via a Regulatory Information Service (RIS), this inside
information is now considered to be in the public domain.

 

Authorised by Mr Stuart Gale, Chief Executive Officer

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