UniCredit Bank issues a USD 75 million loan to Nordgold Group
AO UniCredit Bank and Nordgold Group, the internationally diversified gold producer, have signed a USD 75 million three-year bilateral term loan agreement. The funds will be used to finance general corporate purposes.
“This loan marks historically the first transaction between the bank of UniCredit Group and Nordgold and represents an important step in fostering relationship with this client. We hope that this transaction will pave the way for efficient cooperation between our companies in the near future”, said Kirill Zhukov-Emelyanov, Member of the Management Board of AO UniCredit Bank.
“This agreement with the bank of UniCredit Group underlines the financial strength and stability of Nordgold as we pursue our long-term strategic and operational objectives. We welcome our first agreement with UniCredit Bank and believe that this is a good start for our future cooperation”, said Nikolai Zelenski, Chief Executive Officer of Nordgold.
Nordgold is an internationally diversified gold producer established in 2007. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2016, Nordgold produced 869 koz of gold.
Nordgold operates 9 mines (4 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects in feasibility study, advanced exploration phase and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.