UPDATE 1-Iamgold secures new credit facilities

* $350 mln facility replaces $140 mln facility

* Also has new $50 million letter-of-credit facility

* To hold its AGM on May 19
(All figures in U.S. dollars, unless noted)

TORONTO, March 26 (BestGrowthStock) – Canadian gold miner Iamgold
Corp (IMG.TO: ) has increased its $140 million secured, revolving
credit facility to a $350 million unsecured, revolving credit
facility, the company said on Friday.

The new facility expires in March 2013 and allows for
increased financial flexibility under improved terms and
conditions, it said.

The new credit facility was led and arranged by Scotia
Capital, Societe Generale and Canadian Imperial Bank of
Commerce.

Toronto-based Iamgold also said it had entered into a $50
million letter-of-credit facility supported by Export
Development Canada. The facility will allow for the issuance of
letters of credit in support of certain asset retirement
obligations of the company.

Iamgold, which has operations across the Americas and
Africa, said it plans to hold its annual shareholder meeting in
Toronto on May 19.

Stock Market Report

(Reporting by Euan Rocha; editing by John Wallace)

UPDATE 1-Iamgold secures new credit facilities