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GV Gold obtained usd 75 M credit from UniCredit Bank

June 15, 2017 — GV Gold (Vysochaishy, PJSC) concluded credit agreements with UniCredit Bank to raise USD 75 M of debt funds, including the agreement with Taryn Goldmining Company (TGMC, JSC) for the amount of USD 25 M.

Terms of the agreements: credit period — 5 years including 2 years of grace period, floating interest rate, based on the three-months LIBOR. Cash funds will be used for debt refinancing and general corporate purposes.
GV Gold and UniCredit Bank have been cooperating since 2009.

According to the earlier signed agreements, the total debt to UniCredit Bank amounts to USD 95 M. In accordance with the credit agreement GV Gold may increase the total amount of the credits up to USD 115 M.

As of June 15, 2017, the GV Gold Group’s credit portfolio totaled USD 145 M.