Q3 and Q4 2023 Corporate Highlights
Skouries: Strategic Project Financing Closed
Maximizing shareholder value with well-aligned strategic partnerships
Term Facility Components (Debt)
€480 million
Greek Banks
National Bank of Greece & Piraeus Bank
Recovery and Resilience Facility (RRF) loan provided by the EU
via the Greek State
€200 million
•
Total Project Financing Facility
€680 million
•
Strategic Investment by EBRD (Equity)
European Bank for Reconstruction & Development ("EBRD")
C$81.5 M
Key Features of Term Facility
Non-recourse to Eldorado; secured by Hellas Gold
Blended interest rate of approximately 5-6%(1)
10-year term: 3 years availability; 7 years repayment
Financing includes additional cost overrun facility of up to 10% of
capital costs
Drawdown of funds commenced in April 2023
Drawdowns on the Skouries Term Facility year to date as at
September 30, 2023 totalled €106.5 million.
Bank funding and EBRD funds address remainder of 2023 funding
for project
eldorado gold
(1) The estimated blended interest rate is approximately 6% based on current 6-months EURIBOR, plus a fixed margin.
Project is fully funded.
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