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New US$200m unsecured revolving credit facility

20th May 2013 07:00

RNS Number : 0614F
Randgold Resources Ld
20 May 2013
 



RANDGOLD RESOURCES LIMITED

Incorporated in Jersey, Channel Islands

Reg. No. 62686

LSE Trading Symbol: RRS

NASDAQ Trading Symbol: GOLD

("Randgold Resources" or the "Company")

 

 

RANDGOLD RESOURCES ANNOUNCES NEW US$200 MILLION UNSECURED REVOLVING CREDIT FACILITY

 

 

London, 20 May 2013  - Randgold Resources Limited is pleased to announce that the Company has entered into a US$200 million unsecured revolving credit facility with HSBC and three other banks. The unsecured revolving credit facility matures in May 2016 and is intended to be used for general corporate purposes.

 

"Funds from this corporate facility combined with our strong operational cash flow will enhance our ability to implement our growth initiatives in line with the Company's strategic plan," says Randgold Resources' CEO Mark Bristow.

 

The terms of the credit facility are favourable to the Company and consistent with current market conditions. The interest rate on the credit facility is LIBOR plus 1.50% at the lower end of the leverage grid. HSBC acted as the sole bookrunner on the facility with the other members of the syndicate, who consist of the banking groups of Barclays, Citibank, and Standard Chartered, acting as mandated lead arrangers.

 

RANDGOLD RESOURCES' ENQUIRIES:

Chief ExecutiveMark Bristow+44 788 071 1386+44 779 775 2288

Financial DirectorGraham Shuttleworth+44 1534 735 333+44 779 771 1338

Investor & Media RelationsKathy du Plessis+44 20 7557 7738Email: [email protected]

Website: www.randgoldresources.com

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineral reserve estimates, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'will', 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Assumptions upon which such forward-looking statements are based are in turn based on factors and events that are not within the control of Randgold Resources and there is no assurance they will prove to be correct. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Randgold Resources to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to mining operations, including political risks and instability and risks related to international operations, actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, as well as those factors discussed in Randgold Resource's filings with the US Securities and Exchange Commission (the 'SEC'). Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Randgold Resources does not undertake to update any forward-looking statements herein, except in accordance with applicable securities laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in their filings with the SEC, to disclose only proven and probable ore reserves. The Company uses certain terms in this release, such as 'resources', that the SEC does not recognise and strictly prohibits us from including in our filings with the SEC. Investors are cautioned not to assume that all or any parts of the Company's resources will ever be converted into reserves which qualify as 'proven and probable reserves' for the purposes of the SEC's Industry Guide number 7.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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