Nordgold Repays US$ 325 million Sberbank Loan in Cash
London, United Kingdom, 26 April 2021 – Nord Gold plc ("Nordgold" or the "Company"), the internationally diversified gold producer, announces that it has repaid in full the US$ 325 million seven-year debt facility provided to the Company by Sberbank in April 2017.
In January 2021, Nordgold also repaid the full outstanding amount of US$ 200 million related to the five-year syndicated loan provided to Nordgold in March 2018 by the following mandated lead arrangers: ING (a branch of ING-DIBA AG), AO Raiffeisenbank, Raiffeisen Bank International AG, PJSC Rosbank, Societe Generale and AO UniСredit Bank.
As of 26 April 2021, Nordgold’s total debt consisted solely of a US$ 400 million 5-year Eurobond maturing in 2024. In March 2021, Nordgold entered into a two-year US$ 100 million ESG-linked revolving credit facility with a group of international banks, which has not been drawn as of 26 April 2021.
Nikolai Zelenski, Chief Executive Officer of Nordgold, said:
“Our decision to repay these two outstanding loans in full ahead of the schedule reflects our very strong financial position, with 2020 EBITDA exceeding US$ 1 billion and cash and cash equivalents of US$ 739 million at the end of 2020. Robust free cash flow generation enables us to invest in our low cost, low risk development pipeline anchored in the Gross Mining Region, to advance our new Tokko project and to further expand our flagship mine Gross, while continuing to deliver industry leading shareholder returns.”
| Olga Ulyeva
Head of Corporate Communications
|Peter Ogden||Tel: +44 (0) 20 7250 1446|
Nordgold is an internationally diversified one million ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.