Nordgold secures second ESG-linked revolving credit facility
Internationally diversified gold producer Nordgold’s wholly-owned subsidiary Celtic Resources Holdings has entered into a three-year $100-million environmental, social and governance- (ESG-) linked revolving credit facility (RCF) with a group of international banks.
The syndicated facility was arranged by a number of lead arrangers and bookrunners.
Raiffeisen Bank International together with AO Raiffeisenbank coordinated the facility. Raiffeisen Bank International also acted as sustainability coordinator, while Société Générale was appointed as facility agent.
The new RCF is guaranteed by certain subsidiaries of the company.
The margin under the loan is directly linked to Nordgold’s EcoVadis ESG rating.
The new three-year facility is Nordgold’s second, following the announcement in March of a similar two-year $100-million ESG-linked RCF with a group of international banks, highlighting Nordgold's continued focus on ESG performance, the company notes.
“Nordgold has made considerable progress with its ESG initiatives and we are currently developing a detailed programme of ambitious ESG targets for the future. Adherence to the highest ESG standards is core to our company, so it is a natural extension of this philosophy to include measurable ESG performance in how we finance the business as well,” says CEO Nikolai Zelenski.
As of October 18, Nordgold’s corporate debt comprised of a $400-million five-year Eurobond maturing in 2024 and the aforementioned two-year $100-million facility which has not been drawn as at October 18.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation