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B2Gold Closes $150M Secured Revolving Corporate Loan Facility

B2Gold Corp. (BTO.TO) has closed a fully underwritten $150 million secured revolving corporate loan facility, previously announced on January 10, 2013.

The facility comprises three tranches of $50 million each for a total of $150 million and replaces the existing $25 million revolving credit facility with Macquarie Bank.

The term of the facility is for a period of four years with a final repayment date of March 28, 2017 and the facility has an interest rate of LIBOR plus a margin of 3.5%. The facility will be used to fund construction and development costs related to the Otjikoto gold project in Namibia and for general corporate purposes.

BTO shares gained 10 cents to $2.44 on volume of 2.36 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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