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IAMGOLD announces $400 million loan

Kitco Media
By Kitco News
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IAMGOLD (NYSE: IAG) announced today that it entered into a five-year second lien secured term loan in a principal amount of $400 million from three institutional lenders.

The company said that the second lien term loan is part of the ongoing initiatives by IAMGOLD to increase the strength of its balance sheet during the construction, commissioning and ramp up of the Côté Gold Project.

The construction budget and schedule of Côté Gold remains on track, with the project approximately 80% complete as of the end of March 2023, noted IAMGOLD.

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