Syndicated Facility With Existing Lenders Increased to $300M
PERTH, Western Australia, Oct. 28, 2024 /CNW/ – Westgold Resources Limited (ASX: WGX) (TSX: WGX) (OTCQX: WGXRF) – Westgold or the Company) is pleased to announce it has executed a commitment letter with ING Bank (Australia) Limited and Societe Generale to increase its existing $100M Syndicated Facility Agreement (SFA) to $300M through the addition of a new $200M facility (Facility B).
The new $200M facility strengthens the Company’s balance sheet by providing access to $300M of undrawn facilities (including the undrawn $100M Revolving Corporate Facility) that may be utilised for general corporate purposes.
Facility B is available until 30 June 2025 and will have a quarterly amortisation schedule with first repayment commencing September 2025 (if drawn).
Importantly, Westgold was not required to enter into mandatory gold hedging as part of the new Facility.
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