Canadian mining company Detour Gold has secured a senior secured credit facility worth C$135mn.
The three-year credit facility consists of a C$90mn revolving credit facility and a C$45mn letter of credit facility.
The loan was arranged by financial services provider BMO Capital Markets and Canadian Imperial Bank of Commerce and includes commitments from Commonwealth Bank of Australia, Royal Bank of Canada and The Toronto-Dominion Bank.
The facility will be used for working capital during the ramp-up period, financial assurance and general corporate purposes.
Gerald Panneton, president and CEO of Detour Gold says: “This credit facility is a cost effective source of capital and will provide the company with an additional source of liquidity and greater financial flexibility.”