The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
HSBC Arranges $75MM Upsize for B2Gold Corp.
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Lenders/Participants
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HSBC [Sole Lead Arranger, Sole Bookrunner, Administrative Agent]
The Bank of Nova Scotia [Lender]
Societe Generale [Lender]
ING Bank N.V. [Lender]
Canadian Imperial Bank of Commerce [Lender]
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Structure
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Revolver Upsize
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Amount
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$500.000
Million
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Borrower(s)
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B2Gold Corp.
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Description
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On July 7, 2017, the Company entered into an amended and restated credit agreement with a syndicate of international banks for an upsized RCF for an aggregate amount of $500 million, representing a $75 million increase from the principal amount of $425 million under its existing revolving credit facility. The upsized RCF also allows for an accordion feature whereby upon receipt of additional binding commitments, the facility may be increased to $600 million any time prior to the maturity date. The upsized RCF will bear interest on a sliding scale of between LIBOR plus 2.25% to 3.25% based on the Company's consolidated net leverage ratio. Commitment fees for the undrawn portion of the facility will also be on a similar sliding scale basis of between 0.50% and 0.925%. The term of the upsized RCF is four years, maturing on July 7, 2021. Proceeds from the loan will be used for general corporate purposes and may be utilized to prepay or repay the Subordinated Notes and financing acquisitions.
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Industry
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Metals and Mining
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ABL Advisor
Deal Tables
2024
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