TransactionsYamana Gold Enters Into Unsecured Revolving Credit Facility of US$680 Million and Closes US$270 Million Senior Debt Securities OfferingPublished: 05/11/2010 By Suhuyini Abudulai, Bruce C. Bell, Mark T. Bennett, Andrea FitzGerald, Alex Tarantino On December 22, 2009, Yamana Gold Inc. announced an improvement in its credit facility and a significant increase in its credit availability. The Company increased its revolving credit facility capacity to US$680 million from US$500 million. The credit facility was jointly arranged by Scotia Capital and RBS Securities Inc. and is being provided by a syndicate of international banks. Yamana also closed a US$270 million senior debt securities offering. The private term debt offering was jointly arranged by Bank of America Merrill Lynch and RBS Securities Inc. The offering consisted of unsecured fixed coupon notes with a weighted average maturity of approximately 9 years and coupon of 6.75%. Cassels Brock acted for Yamana with a team that included Mark Bennett (Securities and Mining), Bruce Bell (Financial Services and Mining), Andrea Fitzgerald (Securities and Mining), Alex Tarantino (Financial Services) and Suhuyini Abudulai (Financial Services). |