Canadian gold producer Agnico-Eagle Mines has finalised a new non-amortising US$600mn revolving credit facility, maturing June 2012.

The new facility replaces a pre-existing US$300mn tranche of the company's credit lines that would have matured in September 2010. Including its remaining tranche of the pre-existing credit facilities (a non-amortising US$300mn revolving credit line, maturing January 2013), the company now has US$900mn of credit lines. Both credit facilities are unsecured.

The new facility is being provided by a syndicate of international banks led by Scotia Capital (joint lead arranger and administrative agent) and TD Securities (joint lead arranger and syndication agent), Bank of Montreal, CIBC World Markets, Export Development Canada (all co-documentation agents), Royal Bank of Canada, Commonwealth Bank of Australia, Macquarie Bank Limited, National Bank of Canada, Barclays Bank, Bank of America Merrill Lynch, Credit Suisse and Societe Generale (Canada Branch).

"The new facility provides Agnico-Eagle with additional liquidity for internal expansion opportunities, as well as financial flexibility to deal with potential investment opportunities and other corporate priorities," says Sean Boyd, vice-chairman and CEO.

Agnico-Eagle has also signed an unsecured CA$95mn bonding facility with Export Development Canada. This facility matures June 2014 and will be used to provide letters of credit for environmental obligations or in relation to license or permit bonds relating to the Meadowbank project.