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Nord Gold raises US$400M from 5-year eurobond

Nord Gold SE raised US$400 million in the international capital markets through a five-year eurobond issue.

The company said Oct. 9 that the five-year eurobond will ensure that there are no bank loan repayments due before 2021, improving Nord Gold's maturity profile.

The debt issue will also free-up cash flows for the company to support activities, including new growth projects in French Guiana and the Tokkinsky deposit adjacent to the new Gross gold mine in Russia.

The notes will bear interest at a rate of 4.125% per annum and will mature Oct. 9, 2024.