REVOLVING CREDIT FACILITY

The Credit Facility has a four-year term and consists of a US$350 million revolving senior secured credit facility (previously US$250 million) with a US$100 million accordion feature. The Company proactively extended and increased the credit facility in order to replace the October 2021 senior secured credit facility which was maturing in 2025. The Credit Facility bears interest at a rate of SOFR plus a margin of 2.125-3.250%, dependent on the Company’s net-leverage ratio.

SENIOR NOTES

On August 26, 2021, Eldorado Gold completed an offering of US$500 million aggregate principal amount of 6.250% senior notes due 2029. Eldorado will use the net proceeds from the sale of the Notes to redeem its outstanding US$234 million 9.500% Senior Secured Second Lien Notes due June 2024 effective September 9, 2021, to repay all amounts outstanding under its existing term loan facility, to repay all amounts outstanding under its existing revolving credit facility, to pay fees and expenses in connection with the foregoing, and for general corporate purposes.

CURRENT CREDIT RATINGS

Moody's
Long Term Corporate Family Rating: B2 
Senior Unsecured Debt: B3
Liquidity: SGL-2 
Outlook: Stable

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Standard & Poor's
Long Term Corporate: B+
Outlook: Stable

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