Resolute (ASX:RSG) repays US$130 million bridge debt facility

Company News

by Katrina Bullock

Resolute Mining (ASX:RSG) has repaid its $130 million US dollar acquisition bridge facility.

The facility was used to fund the cash component of Resolute’s acquisition of Toro Gold.

Repayment of the facility was funded from proceeds of Resolute’s recent successful equity raising.

The Facility was provided by Taurus Funds Management for an initial term of six months and has been repaid in full, at the maturity date, avoiding termination or extension fees.

Retirement of this debt will reduce the company’s ongoing interest payments and overall cost of borrowing.

Shares in Resolute Mining (ASX:RSG) are trading 0.87 per cent higher at $1.16.