GOLD miner Randgold Resources saw its share price fall two per cent yesterday morning, following an announcement that it had entered into a $200m (£132m) unsecured revolving credit facility.
The May 2016 debt has an interest rate of Libor plus 1.5 per cent and will be used for general corporate purposes.
HSBC was the sole bookrunner on the deal, with Barclays, Citibank and Standard Chartered acting as mandated lead arrangers.
“Randgold Resources’ share price has fallen 45 per cent since last October, so this is a continuation of that,” Brenda Kelly, senior market strategist at IG, told City A.M. “The key issue for them is the huge pressure on the gold price, which I think may fall further. The announcement of an unsecured credit facility was not great news on top of that.”
Shares closed down 1.28 per cent.