Header Image

Revolving Credit Facility

The Company has a Fourth Amended and Restated Credit Agreement (FARCA), consisting of a $250 million revolving senior secured credit facility with an option to increase the available credit by $100 million through an accordion feature, as well as a letter of credit facility.

Under the Fourth ARCA the revolving credit facility bears interest at LIBOR plus a margin of 2.125% to 3.25%, dependent on a net leverage ratio pricing grid. To be consistent with the 6.250% senior unsecured notes due 2029 issued by Eldorado on August 26, 2021, the Fourth ARCA allows for greater flexibility for a broad range of financing alternatives for the development of the Kassandra assets. The net proceeds from the sale of Notes were used in part to redeem the outstanding 9.5% senior secured second lien notes due 2024 and to repay outstanding amounts under the 2019 Facility.

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