Loading ...IAMGOLD Enters into $170 Million Gold Prepay Arrangement
Toronto, Ontario–(Newsfile Corp. – January 15, 2019) – IAMGOLD Corporation (TSX: IMG) (“IAMGOLD” or the “Company”) today announced that it has entered into a forward gold sale arrangement with financial institutions whereby the Company will receive a prepayment amount of $170 million in exchange for delivering 150,000 ounces in 2022, with a gold floor price of $1,300 per ounce and a cap price of $1,500 per ounce. This Prepaid Gold Arrangement (“Prepay”) is supported by a syndicate of banks including Citibank N.A. and National Bank of Canada. Terms of the Prepay are provided below:
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