G+T has secured a new syndicated bank facilities for Alkane Resources Limited, positioning the ASX-listed gold and antimony producer to accelerate growth with increased liquidity and balance sheet flexibility.
Alkane Resources is an Australian mining company with operating assets across Australia and Sweden. The new financing comprises of a $110 million revolving credit facility alongside a $40 million contingent instrument facility, provided by Macquarie Bank, Westpac Banking Corporation, Commonwealth Bank of Australia and Australia and New Zealand Banking Group.
The facilities provide Alkane with flexible funding to support ongoing operations and growth initiatives, while strengthening its capital structure following its recent merger and early repayment of existing project debt. The three-year term, with options to extend, further strengthen Alkane’s balance sheet following its recent merger and earlier repayment of existing debt.
G+T acted as legal adviser to Alkane Resources, with Bedrock Credit Partners acting as financial adviser.
Partner Dom McGreal said:
This transaction provides Alkane with a flexible and scalable funding platform to support its next phase of growth. It reflects strong lender support and a well-structured financing solution aligned to Alkane’s strategic objectives following its recent merger.
The G+T team was led by partner Dom McGreal, supported by lawyers Roderick Gillis and David Stokes, with contributions from the firm’s Energy, Resources and Infrastructure, Native Title and Environment teams. |
