Kinross Gold enters into US$1 billion term loan and increases revolving credit facility to US$1.5 billion

On August 17, 2012, Kinross Gold Corporation (Kinross) entered into a three-year US $1 billion term loan that has no mandatory amortization payments and matures on August 10, 2013. Kinross also increased its revolving credit facility from US $1.2 billion to US $1.5 billion and extended the term to August 10, 2017. The Bank of Nova Scotia, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets were the lead arrangers. Kinross is a Canadian-based gold mining company with mines and projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States. Fasken Martineau advised the lenders with a team led by John Torrey and including Thomas Meagher, David Ferris and Dev Singh (banking & finance) and Christopher Steeves (tax).