Elian Corporate Services has successfully supported Golden Star Resources on closing a $150 million financing transaction with Royal Gold, Inc. (RGI) and its wholly-owned subsidiary RGLD Gold AG (RGLD).
The $150m financing consists of a $130m stream transaction with RGLD and a further $20m term loan from RGI. The funds received will facilitate development of the Wassa and Prestea underground gold mines in Ghana which are expected to be in production by late 2016.
Elian was appointed to provide fiduciary and corporate administration services to assist with the transaction.
Lynden John, Associate Director of Elian, said: ‘I am delighted that Elian has had the opportunity to assist Golden Star Resources on this significant transaction and demonstrate that Elian can deliver more value and raise the bar in the provision of fiduciary and corporate administration services on corporate finance transactions. Elian’s participation in this transaction is further evidence of its ability to support financing for multinational corporations.’
A number of advisors acted on the financing including Fasken Martineau, BMO Capital Markets and Ogier.