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Caledonia Mining Corporation Plc: Caledonia Group Signs US$150 Million Interim Financing Facilities Agreement to Support Construction of the Bilboes Gold Project
- CMCL
- SBK.JO
(NYSE AMERICAN:CMCL)(AIM:CMCL)(VFEX:CMCL)
SAINT HELIER, JE /ACCESS Newswire/ November 5, 2026 /Caledonia Mining Corporation Plc (“Caledonia” or the “Company” and together with its subsidiaries the “Group”) is pleased to announce that its subsidiary Caledonia Holdings Zimbabwe (Private) Limited has signed an interim financing facilities agreement of up to US$150 million (the “Facility”), providing additional financial flexibility as the Group executes its financing strategy for the Bilboes Gold Project in Zimbabwe (“Bilboes”). The Facility has a termination date of 36 months from its effective date, with the option of a one-year extension.
The Facility has been arranged by Stanbic Bank Zimbabwe Limited, a member of the Standard Bank Group, and CBZ Bank Limited (acting through CBZ Capital) as mandated lead arrangers and is syndicated across a consortium of leading Zimbabwean financial institutions comprising Stanbic Bank, CBZ Bank Limited, Central African Building Society, FBC Bank Limited, FBC Crown Bank Limited, First Capital Bank Limited, NMB Bank Limited and ZB Bank Limited.
The Facility comprises two tranches:
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Facility A: a revolving credit facility of up to US$50 million at an interest rate of the secured overnight financing rate for the relevant period (“SOFR”) plus 8.10% per annum. Facility A will remain available until one month prior to the maturity of the Facility (which is three years from the effective date, with the option of a one-year extension). Initial utilisation of Facility A is subject to certain conditions, including the implementation of additional hedging arrangements.
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Facility B: a term facility of up to US$100 million, with an accordion option of up to a further US$50 million, at an interest rate of SOFR plus 7.90% per annum. Facility B has an 18-month availability period and capital repayment pause, following which amounts drawn will be repaid through quarterly repayments.
The Facility provides the Group with an additionalBilboes and advancing discussions with prospective providers of long-term project finance
The successful syndication of the Facility across eight banking institutions demonstrates strong support from the Zimbabwean banking sector for both the Group and the project. The Facility complements the Company’s recently completed convertible notes offering and gold price hedging programme, creating a diversified and robust financing platform as the Group advances towards securing the final component of its funding strategy.
