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Canada's Barrick switches $3bn to SOFR, ESG

Toronto-headquartered Barrick Gold has put its US$3 billion undrawn revolving credit facility on a Secured Overnight Financing Rate (SOFR) interest rate, replacing London Inter-Bank Offered Rate (Libor) and has extended the end of the facility by one year to May, 2027.

Canada's Barrick switches $3bn to SOFR, ESG  Canada's Barrick switches $3bn to SOFR, ESG  Canada's Barrick switches $3bn to SOFR, ESG  Canada's Barrick switches $3bn to SOFR, ESG  Canada's Barrick switches $3bn to SOFR, ESG

Barrick switches $3bn to SOFR, ESG

The revised credit facility also includes "sustainability-linked metrics".