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Newcrest extends maturity of its bilateral bank facilities

28 March 2014

Newcrest announced today that it has completed arrangements to extend the tenor of its existing bilateral bank loan facilities.  The maturity profile of Newcrest’s bilateral bank loan facilities before and after the extension is tabulated below:

 

Bilateral bank loan facilities maturity profile (US$m)

FY14

FY15

FY16

FY17

FY18

FY19

FY20

Total

Pre-extension

-

-

1,725

325

975

125

-

3,150

Post-extension

-

-

350

1,075

850

750

125

3,150

Newcrest Finance Director and Chief Financial Officer, Gerard Bond, said “The extension provides a smoother and longer average maturity profile for Newcrest’s bilateral loan facilities, with no material change to terms and conditions, no increase in the total level of debt facilities and no increase in interest cost.”

“The extension affirms the strong ongoing support Newcrest has from its existing relationship banks, which Newcrest greatly appreciates,” he said.