Royal Gold, Inc. (RGLD) said it obtained a new $100 million secured term loan from HSBC Bank USA, National Association, which would be funded in conjunction with the closing of the Plan of Arrangement between Royal Gold and International Royalty Corporation, as announced on December 18, 2009, whereby Royal Gold would acquire all of the issued and outstanding shares of IRC. The loan would mature 18 months from the funding date with principal repayments scheduled to occur every three months. The interest rate on the loan is LIBOR plus 2.25%. Funding under the $100 million term loan is subject only to delivery of a borrowing notice and certificates by Royal Gold and certain of its subsidiaries.
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