Golden Star enters into US$25 million secured medium term loan facility

On September 10, 2014, Golden Star Resources announced that its subsidiary, Golden Star (Wassa) Limited, signed a commitment letter with Ecobank Ghana Limited (Ecobank) for an additional US$25 million secured Medium Term Loan Facility. Drawdowns under the new facility will assist with financing development of a potential underground mine at Wassa and will be repayable within 60 months of initial drawdown. The drawdown period is twelve months from entering into the agreement. The security and terms on are similar to the $50 million secured Medium Term Loan Facility entered into with Ecobank in 2013. Fasken Martineau advised Golden Star with a team that included John Turner, John Sabetti, Aaron Stefan and Mitchell Thaw.