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<a href="http://www.accessmylibrary.com/coms2/summary_0286-36470064_ITM" title="Facts and information about Highland Gold raises 90 mln usd in debt financing with 2 Russian banks UPDATE.">Highland Gold raises 90 mln usd in debt financing with 2 Russian banks UPDATE.</a>
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Highland Gold raises 90 mln usd in debt financing with 2 Russian banks UPDATE.
(From AFX Europe (Focus))
(Adds company comment, details)
LONDON (AFX) - Highland Gold Mining Ltd said it raised 90 mln usd in new debt financing with two Russian banks.
The debt financing comprises of a 60 mln usd facility with MDM Bank and a 30 mln facility with GazpromBank. The new facilities reduce Highland Gold's cost of debt and will be reclassified as long-term borrowings in future results.
Proceeds from the new financing have been used to complete the early repayment of an existing syndicated loan facility, of about 25.6 mln usd, with the remainder being used to fund development costs at the Novoshirokinskoye polymetallic deposit and the Mayskoye and Taseevskoye gold deposits.
"A number of leading Russian and ...
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