Newcrest secures loan facility

Gold miner says its new $US200m facility offers extra liquidity headroom.

Newcrest Mining (NCM) has signed documentation for a new $US200 million ($222 million) loan facility with a new bank.

In a statement to the Australian Securities Exchange, the gold miner said it had signed documentation to provide a bilateral loan facility on terms consistent with its existing similar facilities.

The loan facility is for a period of three years and matures in January 2017.

Newcrest said the new facility provides it with additional liquidity headroom, expertise and diversity, as well as extending the average debt maturity of its bilateral loan facilities.

In October, Newcrest secured bilateral loan facilities from two banks totalling $US450 million.

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