Royal Gold to repay term loan facility via convertible notes proceeds

By Ashley Montgomery

Kansas City, Kan., June 13 - Royal Gold, Inc. intends to use the proceeds from its $325 million issue of convertible senior notes due 2019 to repay its term loan facility, according a filing with the Securities and Exchange Commission.

The company said it owed $114.4 million under the facility as of March 31. Royal Gold will terminate the facility after the payment.

Further proceeds will be used for general corporate purposes.

The convertibles issue also carries an over-allotment option for an additional $45 million.

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

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