Royal Gold gets $125 million amended and restated revolver

By Sara Rosenberg

New York, Oct. 31 - Royal Gold Inc. closed on a $125 million amended and restated five-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Friday.

HSBC acted as the lead arranger and administrative agent on the deal that was completed on Oct. 30, with Bank of Nova Scotia the syndication agent.

Pricing on the revolver can range from Libor plus 175 basis points to 225 bps, based on leverage.

Financial covenants include a leverage ratio of 3.0 to 1.0, a minimum consolidated net worth, an interest coverage ratio of at least 3.0 to 1.0, a current ratio of at least 1.5 to 1.0 and a facility coverage ratio of at least 1.25 to 1.0.

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

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