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Eldorado Gold Announces New Senior Secured Credit Facility

VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado”, the “Company” or “We”) is pleased to announce that the Company and its syndicate of lenders have executed an amended and restated senior secured credit facility (the “fourth amended and restated credit agreement” or “Fourth ARCA”).

The Fourth ARCA consists of a US$250 million revolving senior secured credit facility with an option to increase the available credit by US$100 million through an accordion feature, as well as a letter of credit facility. The Fourth ARCA amends and replaces the May 2019 US$450 million senior secured credit facility (the “2019 Facility”), which consisted of a US$200 million non-revolving term loan and a US$250 million revolving credit facility. Under the Fourth ARCA the revolving credit facility bears interest at LIBOR plus a margin of 2.125% to 3.25%, dependent on a net leverage ratio pricing grid. To be consistent with the 6.250% senior unsecured notes due 2029 (the “Notes”) issued by Eldorado on August 26, 2021, the Fourth ARCA allows for greater flexibility for a broad range of financing alternatives for the development of the Kassandra assets.

The net proceeds from the sale of Notes were used in part to redeem the outstanding 9.5% senior secured second lien notes due 2024 and to repay outstanding amounts under the 2019 Facility.

“We continue to strengthen our balance sheet and maintain a solid financial position,” said George Burns, President and CEO. “The amended and restated senior secured credit facility provides Eldorado greater financial flexibility as we pursue a broader range of funding alternatives for the development of our Kassandra assets in Greece.”

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil.  The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities.  Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).

Contacts

Investor Relations

Lisa Wilkinson, VP, Investor Relations
604.757 2237 or 1.888.353.8166
lisa.wilkinson@eldoradogold.com

Media

Louise McMahon, Director Communications & Public Affairs
604.616 2296 or 1.888.363.8166
louise.mcmahon@eldoradogold.com

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15.10.2021, 19:57  |  112   |   |   

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Eldorado Gold Announces New Senior Secured Credit Facility VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) - Eldorado Gold Corporation (“Eldorado”, the “Company” or “We”) is pleased to announce that the Company and its syndicate of lenders have executed an amended and restated senior secured …

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