Capital Financing
Caledonia Mining signs up to US$150 million interim financing facility for Bilboes Gold Project
Facility size
Up to US$150 million
Plus accordion option of up to a further US$50 million
Lender
Syndicate of eight banking institutions
Arranged by Stanbic Bank Zimbabwe Limited and CBZ Bank Limited
Tenor
36 months from effective date
Option of a one-year extension
Summary
Caledonia Mining Corporation Plc announced on November 5, 2026 that its subsidiary Caledonia Holdings Zimbabwe (Private) Limited has signed an interim financing facility agreement of up to US$150 million. The facility has two tranches: Facility A, a revolving credit facility of up to US$50 million at SOFR plus 8.10% per annum, and Facility B, a term facility of up to US$100 million at SOFR plus 7.90% per annum, with an accordion option of up to a further US$50 million. The company states the facility has a termination date of 36 months from effective date, with the option of a one-year extension. It was arranged by Stanbic Bank Zimbabwe Limited and CBZ Bank Limited (acting through CBZ Capital) and syndicated across eight banking institutions. The company states the facility is the third pillar of its four-pillar funding strategy for the Bilboes Gold Project in Zimbabwe.
Offer terms
| Term | Detail |
|---|---|
| Instrument | Interim financing facility of up to US$150 million, with a termination date of 36 months from effective date and the option of a one-year extension |
| Tranches | Facility A: a revolving credit facility of up to US$50 million at SOFR plus 8.10% per annum. Facility B: a term facility of up to US$100 million, with an accordion option of up to a further US$50 million, at SOFR plus 7.90% per annum |
Use of proceeds
- Provide additional financial flexibility as the Group executes its financing strategy for the Bilboes Gold Project in Zimbabwe
- Provide the Group with an additional source of funding while maintaining momentum on the development of Bilboes and advancing discussions with prospective providers of long-term project finance
Timetable
| November 5, 2026 | Caledonia announces the signing of the interim financing facility agreement |
|---|---|
| October 2028 | Company states the project remains on track to deliver first gold from Bilboes |
Source: Caledonia Mining announcement dated 5 November 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
