Northern Star Resources Limited (NST) released a positive quarterly report on 24th January 2024 and announced closing their A$1.5bn refinancing of corporate bank facilities, which remain undrawn and available. The report highlighted that NST remains on track to deliver its guidance of 1.6-million to 1.75-million ounces of gold for the 2024 financial year.
Wright Legal Director Dom McGreal said "We appreciate the opportunity to assist the Northern Star team on this significant financing transaction. Congratulations to all involved including Ryan Gurner, Phillip Coetzer, Hilary Macdonald and Michael Evans from NST and the team at Allens, who acted for the banks."
Read the Northern Star Quarterly Report here.
Northern Star Resources Limited (NST) is a global-scale ASX 100 gold producer with projects located in Western Australia, the Northern Territory and Alaska. Since the acquisition of the Paulsens mine in July 2010, NST has assembled a portfolio of mining operations including Jundee, Kundana (the East Kundana Joint Venture – NST’s interest: 51%), Kanowna Belle, Paulsens, Pogo and its 50% interest in the Kalgoorlie Super Pit.
Wright Legal has had the opportunity to assist NST on various debt facilities and hedging since its acquisition of Paulsens and as it has grown.
Wright Legal assisted the NST team to secure a A$480 million syndicated revolving credit and performance bond facilities with existing lenders ANZ, CBA and HSBC used towards the US$800 million Super Pit acquisition from Newmont GoldCorp Corporation, together with hedging arrangements and continuation of its bonding facilities.
In July 2021 we assisted with NST's A$1 billion syndicated corporate debt facilities to refinance existing debt in line with the enlarged group’s strategic plans post-merger with Saracen Mineral Holdings.
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