King & Wood Mallesons has advised the West Australian-based mining company Independence Group NL (IGO) on the establishment of a secured A$170 million multi-option facility agreement with National Australia Bank Limited.
The new facilities made available to IGO will provide financial flexibility to the company as it moves towards completion of the development of the landmark Tropicana gold project located in Western Australia.
The King & Wood Mallesons team was led by Senior Associate, Nathan Collins and Partner, Nicholas Creed.
Nathan Collins said, “We are delighted to have been able to assist IGO with this transaction. IGO already has a strong balance sheet and this facility bolsters flexibility in the company’s capital structure. It will help the company’s transformation to become a diversified miner.”
“It is exciting to be able to assist IGO in its financing arrangements. Completion of Tropicana later this year and the transformation the company is undergoing is a great story to be involved in” said Nicholas Creed.
Independence Group NL is based in Western Australia. It is currently at the mid-point of moving from being a nickel producer to becoming a gold, nickel, copper, zinc and silver mining company. IGO currently has a market capitalisation of over A$1 billion.
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