Kinross Gold (KGC) Repays $250 in Senior Notes

September 1, 2016 5:01 PM EDT

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Kinross Gold Corporation (NYSE: KGC) announced that it has repaid $250 million in senior notes that were due September 1, 2016.

With this repayment, Kinross has no other debt maturities until 2020, as the maturity dates of the Company's $500 million term loan and $1,500 million revolving credit facility were extended by one year to August 10, 2020 and August 10, 2021, respectively.

With no debt maturing in the next four years, a strong balance sheet and excellent liquidity, Kinross expects to have the financial flexibility to fund organic growth opportunities within its global portfolio, including the Tasiast Phase One expansion and potential Bald Mountain expansion.

As of June 30, 2016, Kinross had cash and cash equivalents of $968.2 million and had available credit of $1,499.6 million for total liquidity of approximately $2.5 billion.

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