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Alamos Gold ups revolving credit facility to US$500M

Alamos Gold Inc. amended its undrawn revolving credit facility, increasing its size to US$500 million from US$400 million on more favorable terms.

The new terms include lower fees and an extension of maturity to Dec. 17, 2023, the company said Dec. 18.

The new facility comes with undrawn fees of 0.42% and drawn fees of the London interbank offered rate plus 1.875% at its current leverage ratio, compared to undrawn fees of 0.45% and drawn fees of Libor plus 2.00% previously.

The company is debt free with cash and cash equivalents of US$186 million as of Sept. 30, according to the release.