Nordgold Group, which has gold mining operations in Africa, Eurasia and the Americas, has raised $400-million in the international capital markets in a five-year Eurobond issue.
This is the second Eurobond issued by Nordgold since its establishment in 2007. In 2013, it raised $500-million in its debut five-year Eurobond issue which was redeemed in 2018.
Nordgold on Wednesday said the success of the new capital markets transaction highlighted its strong production profile, high-quality and geographically diverse asset portfolio and proven development record, with three new mines launched since 2013.
"The new Eurobond improves Nordgold’s maturity profile, as it ensures that there are no bank loan repayments due before 2021, while also freeing up cash flows to support its activities, including the new growth projects in French Guiana, in South America, and the Tokkinsky deposit adjacent to the new Gross mine, in Russia," the company added.