Ms. Carol Banducci reports

IAMGOLD SECURES CREDIT FACILITY

Iamgold Corp. has signed definitive agreements with a banking syndicate to refinance its expiring unsecured revolving credit facility with a $250-million facility consisting of a fully committed $100-million secured and immediately available revolving credit facility with an option to potentially add a further $150-million. All amounts are expressed in U.S. dollars, unless otherwise indicated.

"Iamgold's balance sheet is strong, its bonds are not due until October, 2020, and the company ended 2015 with approximately $700-million in cash and bullion that contribute to its peer-leading net cash position, " said Carol Banducci, executive vice-president and chief financial officer. "The $250-million credit facility reflects current market conditions, and is appropriate for the size and financial liquidity requirements of the company. We do not expect to draw upon the facility in the foreseeable future."

The new corporate facility will expire in February, 2020, and the accordion is available under the same terms and conditions. The corporate facility was led and arranged by National Bank of Canada and Deutsche Bank. The company is currently in discussions with other lenders with regard to participation in the potentially larger facility on the basis of terms already agreed with the lead lenders.

The company's existing letters of credit revolving credit facility, which allow for the issuance of letters of credit in support of certain asset retirement obligations, remain in place.

We seek Safe Harbor.