The restructuring of the debts, incurred in the delivery of the Hellyer gold mine to production, sees an earlier repayment than under the prior terms.
It will accordingly save around US$2.5mln of interest expenses per year, NQ noted.
“NQ looks forward to the start of a productive working relationship with ING,” David Lenigas, NQ chairman said in a statement.
Under the new facility there will be a 6 year maturity and it carries interest at 6.5% plus LIBOR.
Drawdown is subject to the completion of final documentation and normal commercial terms, and NQ noted that documentation to close off these conditions are well advanced.
Additionally, the new facility includes an accordion option which would see the principal increase to US$55mln subject to conditions.
NQ noted that the refinancing was introduced and supported by Traxys, a commodities trader and merchant, which has had the exclusive offtake of 100% of Hellyer’s production through to 2024.
Along with the refinancing, Traxys has extended its offtake deal for the life of the mine.
“This refinancing facility with ING represents the culmination of nearly a year's extensive due diligence with both the bank and Traxys, and reflects the success of the final commissioning phase of Hellyer at its targeted throughput rate of 1.2 million tonnes per year and the establishment of a stable operating environment,” Lenigas said.
He added: “The extension of the offtake agreement with Traxys from 2024 to life-of-mine is also very significant news for the company, as it secures fortnightly product payments for Hellyer's production for its entire 10-year mine life.
“On drawdown, the company's balance sheet will be significantly strengthened, and work will commence to seek a listing on a Tier-1 stock exchange to complement its current London Aquis Exchange listing and OTC Markets trading platforms."