OceanaGold Refinances Revolving Credit Facility With Improved Terms

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OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) has announced the refinancing of its revolving credit facility, with a new facility providing committed bank credit totaling US$200 million, plus a US$50 million accordion, replacing the previous facility. The four-year facility is maturing on December 31, 2027, with improved commercial terms compared to the previous facility. Marius van Niekerk, Chief Financial Officer of OceanaGold, expressed satisfaction with the commitment of a highly reputable and global banking group to provide the new facility, allowing the company to maintain significant financial flexibility at a lower cost, right-sizing liquidity requirements in line with the capital management plan and recognizing projected growth in production and an exciting organic growth pipeline.

VANCOUVER, BC, Dec. 15, 2023 /PRNewswire/ - OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) ("OceanaGold" or the "Company") announces it has refinanced its revolving credit facility. The new facility is supported by a group of seven leading international banks, five of which were part of the previous revolving credit facility.  

Key Highlights

• New facility providing committed bank credit totalling US$200 million, plus a US$50 million accordion, replacing the previous facility.
• Four-year facility maturing December 31, 2027.
• Improved commercial terms compared with the previous facility.

Marius van Niekerk, Chief Financial Officer of OceanaGold, said "We are pleased that a highly reputable and global banking group has committed to provide this new facility which allows us to maintain significant financial flexibility at a lower cost. The new facility right-sizes our liquidity requirements in line with our capital management plan, which recognizes both our projected growth in production and exciting organic growth pipeline."

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

www.oceanagold.com

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SOURCE OceanaGold Corporation

FAQ

What is the latest announcement from OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF)?

OceanaGold Corporation has announced the refinancing of its revolving credit facility with a new facility providing committed bank credit totaling US$200 million, plus a US$50 million accordion, replacing the previous facility.

What are the key highlights of the new facility announced by OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF)?

The new facility provides committed bank credit totaling US$200 million, plus a US$50 million accordion, replacing the previous facility. It is a four-year facility maturing on December 31, 2027, with improved commercial terms compared to the previous facility.

Who expressed satisfaction with the commitment of a highly reputable and global banking group to provide the new facility for OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF)?

Marius van Niekerk, Chief Financial Officer of OceanaGold, expressed satisfaction with the commitment of a highly reputable and global banking group to provide the new facility.

What is the role of Marius van Niekerk in OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF)?

Marius van Niekerk is the Chief Financial Officer of OceanaGold Corporation.