Nordgold Agrees US$75 Million Three-Year Debt Facility with UniCredit Bank
London, United Kingdom, 29 May 2017 – Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, is pleased to announce that the Group has entered into a US$75 million three-year bilateral term loan agreement with AO UniCredit Bank.
Nordgold intends to use the proceeds to finance general corporate purposes.
Nikolai Zelenski, Chief Executive Officer of Nordgold, commented:
“This agreement with the bank of UniCredit Group underlines the financial strength and stability of Nordgold as we pursue our long-term strategic and operational objectives. We welcome our first agreement with UniCredit Bank and believe that this is a good start for our future cooperation.”
Kirill Zhukov-Emelyanov, Member of the Management Board of AO UniCredit Bank, said:
“This loan marks historically the first transaction between the bank of UniCredit Group and NordGold and represents an important step in fostering relationship with this client. We hope that this transaction will pave the way for efficient cooperation between our companies in the near future.”
As at March 31, 2017, Nordgold’s total debt was US$927.9 million, while its net debt position was US$677.7 million.
Nordgold is an internationally diversified gold producer established in 2007. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2016, Nordgold produced 869 koz of gold.
Nordgold operates 9 mines (4 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects and advanced exploration phase and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.
About UniCredit Bank
UniCredit Bank is a Russian commercial bank, operating in Russia since 1989. Ranked 11th by total assets based on the 2016 results (Interfax-100 ranking), UniCredit Bank is the largest foreign bank in Russia. UniCredit Bank is fully owned (100%) by UniCredit Group (UniCredit S.p.A.). The Bank benefits from its strong position in the large Russian corporate finance market and sustainable retail banking business. UniCredit Bank operates under General Banking License №1 of Central Bank of the Russian Federation.
UniCredit is a strong Pan-European Group with a simple commercial banking model and a fully plugged in Corporate & Investment Bank, delivering its unique Western, Central and Eastern European network to its extensive 25 million strong client franchise.
UniCredit offers local expertise as well as international reach and accompanies and supports its clients globally, providing clients with unparalleled access to leading banks in its 14 core markets as well as an another 18 countries worldwide. UniCredit European banking network includes of Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Slovakia, Slovenia, Serbia, Turkey.
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