Endeavour Mining plc’s USD1 Billion Financing

In UK Linklaters, advised on the matter.

Linklaters advised Endeavour Mining Corporation with a team including Mike Bienenfield (Debt Capital Markets), Colin Chang (Debt Capital Markets), Caroline Courtney (Picture – Finance), Toby Grimstone (Finance).

Endeavour Mining plc entered into a new USD500m unsecured revolving credit facility (RCF) and issuance of USD500m 5.00% senior unsecured notes due 2026 as part of its refinancing strategy.

The proceeds of the notes, together with cash available on the Group’s balance sheet, were used: (i) to repay all amounts outstanding under the Group’s USD370m bridge term loan facility, which was used to retire higher cost debt facilities acquired upon the acquisition of Teranga Gold Corporation (ii) to repay the USD130m drawn under the Group’s existing revolving credit facility and (iii) to pay fees and expenses in connection with the financing.

Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

The Linklaters RCF team was led by partners Caroline Courtney (Picture) and Toby Grimstone. The Linklaters high yield team was led by Colin Chang, Mike Bienenfield and Alexander Parkhouse.

Involved fees earner: Mike Bienenfield – Linklaters; Colin Chang – Linklaters; Caroline Courtney – Linklaters; Toby Grimstone – Linklaters; Alexander Parkhouse – Linklaters;

Law Firms: Linklaters;

Clients: Endeavour Mining Corporation;

Author: Giulia Di Palma