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Nordgold Raises US$400 Million in 5-Year Eurobond ...

Nordgold Raises US$400 Million in 5-Year Eurobond Issue

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS (EXCEPT TO QIBs THAT ARE ALSO QPs, AS DEFINED BELOW), OR IN AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL

London, United Kingdom, 9 October 2019 — Nordgold Group (“Nordgold”), the internationally diversified gold producer, announces that it has raised US$400 million in the international capital markets in a 5-year Eurobond issue.

Nordgold has successfully returned to the debt capital markets by issuing the US$400,000,000 4.125% Guaranteed Notes due 2024 (the “Notes”) on 9 October 2019. This is the second Eurobond issued by Nordgold since its establishment in 2007. In 2013, Nordgold raised US$500 million in its debut 5-year Eurobond issue which was redeemed in 2018. The success of the new capital markets transaction highlights Nordgold’s strong production profile, high quality and geographically diverse asset portfolio, and proven development track record, with three new mines launched since 2013.

The new Eurobond improves Nordgold’s maturity profile, as it ensures that there are no bank loan repayments due before 2021, while also freeing up cash flows to support its activities, including the new growth projects in French Guiana and the Tokkinsky deposit adjacent to the new Gross mine in Russia.

The Notes are issued by Celtic Resources Holdings DAC, a wholly-owned subsidiary of Nord Gold SE, and guaranteed by the following subsidiaries of Nord Gold SE: “Neryungri-Metallik” LLC, “Rudnik Taborny” LLC, “Berezitovy Rudnik” LLC, JSC FIC Alel, Société Minière de Dinguiraye and High River Gold Mines Ltd. The Notes bear interest at a rate of 4.125% per annum, payable semi-annually in arrears, on 9 April and 9 October of each year, commencing on 9 April 2020. The Notes mature on 9 October 2024. The Notes are admitted to the Official List of Euronext Dublin and traded on the Global Exchange Market of Euronext Dublin, with effect from 9 October 2019.

The Notes have been rated “Ba2” by Moody’s and “BB” by Fitch.

The order book was more than two times oversubscribed.

Nordgold’s new Eurobond issue was coordinated by Citigroup Global Markets Limited, J.P. Morgan Securities plc and Société Générale as joint global coordinators and bookrunners. GPB Financial Services Hong Kong Limited, ING Bank N.V., London Branch, Sberbank CIB (UK) Limited and VTB Capital plc acted as joint bookrunners and PJSC Sovcombank as joint lead manager.