Attached files
file | filename |
---|---|
8-K - FORM 8-K - ROYAL GOLD INC | d71901e8vk.htm |
EX-10.4 - EX-10.4 - ROYAL GOLD INC | d71901exv10w4.htm |
EX-23.1 - EX-23.1 - ROYAL GOLD INC | d71901exv23w1.htm |
EX-10.5 - EX-10.5 - ROYAL GOLD INC | d71901exv10w5.htm |
EX-10.6 - EX-10.6 - ROYAL GOLD INC | d71901exv10w6.htm |
EX-10.1 - EX-10.1 - ROYAL GOLD INC | d71901exv10w1.htm |
EX-10.2 - EX-10.2 - ROYAL GOLD INC | d71901exv10w2.htm |
EX-10.3 - EX-10.3 - ROYAL GOLD INC | d71901exv10w3.htm |
Exhibit 99.1
1660 Wynkoop Street, Suite 1000 | ||
Denver Colorado 80202-1132 | ||
Phone: (303)573-1660 | ||
Fax: (303) 595-9385 | ||
Email: info@royalgold.com | ||
www.royalgold.com |
Royal Gold Amends its Term Loan and Retires Debentures
DENVER, COLORADO. MARCH 29, 2010: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX:RGL) today
announced that it amended its term loan facility (Term Loan) with HSBC Bank USA, National
Association (HSBC) and will retire the debentures of International Royalty Corporation (IRC).
The Term Loan was funded in conjunction with the closing of the Plan of Arrangement between Royal
Gold and IRC on February 22, 2010.
The modifications to the Term Loan include, among other items: 1) an increase in the principal
balance available under the Term Loan from US$100 million to US$130 million; 2) an extension of the
final maturity date from 18 to 36 months from the initial funding date of February 17, 2010; 3)
increases in the applicable LIBOR margin (currently set at 2.25%) by 0.50% every six months,
commencing 18 months after the initial funding date until maturity; and 4) a reduction in the
amortization rate from 10% of the initial funded amount per quarter to 5% of the fully funded
principal amount per quarter. The Bank of Nova Scotia (Scotia) joined the Term Loan as a Lender
with a commitment of US$50 million. The additional Term Loan proceeds of US$30 million will be
used to redeem the outstanding 5.5% senior secured debentures of IRC totaling C$30 million
(approximately US$29.4 million) which were scheduled to mature on February 22, 2011. In addition
to the proposed changes to the Term Loan, HSBC and Scotia have amended certain provisions under the
Companys US$125 million revolving credit facility to match those of the Term Loan.
Royal Gold is a precious metals royalty company engaged in the acquisition and management of
precious metal royalty interests. The Company owns royalties on 193 properties on six continents,
including royalties on 31 producing mines and 20 development stage projects. Royal Gold is
publicly traded on the NASDAQ Global Select Market under the symbol RGLD and on the Toronto Stock
Exchange under the symbol RGL. The Companys website is located at www.royalgold.com.
For further information, please contact:
Karen Gross
Vice President and Corporate Secretary
(303) 575-6504
Vice President and Corporate Secretary
(303) 575-6504
* * * END * * *