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Harneys advises lenders on US$350 million revolving credit facility to B2Gold Corp.

15 July 2015

Harneys acted as BVI and Cayman counsel to HSBC Securities (USA), Inc. (as sole lead arranger and sole bookrunner), The Bank of Nova Scotia, Société Générale and ING Bank N.V. (as mandated lead arrangers) and their lead counsel Shearman & Sterling (New York), on the provision of a US$350 million senior secured revolving credit facility to B2Gold Corp. The facility may be increased under an accordion feature to US$450 million.
 
In addition to advising on the BVI and Cayman elements of the deal, Mauritius advice was provided by BLC Chambers, with whom Harneys has had an ongoing association since 2013.

B2 Gold Corp is a Vancouver based gold producer company which is traded on the Toronto Stock Exchange, the New York Stock Exchange and the Namibian Stock Exchange. It has four operating gold mines in Namibia, Nicaragua and the Philippines, and development assets in Burkina Faso, Colombia, Mali and Nicaragua.
 
The HSBC arranged facility refinanced an existing US$200 million secured syndicated facility, which Harneys had also acted on as BVI and Cayman counsel to the agent and the lenders. The existing facility had financed the construction and operation of the Otjikoto mine in Namibia and the additional financing will be used for general corporate purposes and to fund the construction and development of the Fekola Project in Mali.

The Harneys team included Partner Louise Groom and Senior Associate Michelle Frett-Mathavious.