Royal Gold draws $100 million of revolver for potential acquisitions

By Angela McDaniels

Tacoma, Wash., Dec. 8 - Royal Gold Inc. borrowed $100 million under its $225 million revolving credit facility due Feb. 1, 2014, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The draw will be used to fund potential acquisitions of royalty or similar interests and for general corporate purposes.

The draw was made on Dec. 2. As of that date, the company had $170 million of outstanding borrowings under the revolver and the interest rate was Libor plus 175 basis points.

HSBC Bank USA, NA and Bank of Nova Scotia are the lead banks.

Royal Gold is a Denver-based precious metals royalty company.

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