TORONTO, ONTARIO, Nov. 5, 2009 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 11/05/09 -- Kinross (TSX: K)(NYSE: KGC)announced today that it has entered into an amended revolving credit facility which includes an increase of available credit to US$450 million, on an unsecured basis, from US$404 million under its previous secured facility.
The new facility will expire in November of 2012. The term loan for the Paracatu property forms part of the revolving credit facility, and that credit will be available to the Company as the term loan is repaid. The new credit agreement was led and arranged by Scotia Capital and by Bank of America Merrill Lynch.
Supplementary goodwill filing note
As part of the filing of its financial statements and MD&A for the third quarter ended September 30, 2009, the Company has included a more detailed accounting policy note regarding goodwill impairment (see Note 2 to the September 30th interim financial statements) and related discussion and analysis in the September 30, 2009 interim MD&A, related to the impairment of goodwill for the year ended December 31, 2008.
About Kinross Gold Corporation
Kinross is a Canadian-based gold mining company with mines and projects in the United States, Brazil, Chile, Ecuador and Russia, and employs approximately 5,500 people worldwide.
Kinross' strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: delivering mine and financial performance; attracting and retaining the best people in the industry; achieving operating excellence through the "Kinross Way"; and driving new opportunities through exploration and acquisition.
Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release, including any information as to the future performance of Kinross, constitute "forward-looking statements" within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbour" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
