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LONG-TERM DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2020
LONG-TERM DEBT AND CREDIT FACILITIES |
Schedule of long-term debt |
|  |  |  |  | December 31, 2020 |  | December 31, 2019
|  |  |  |  |  |  |  | Deferred |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Nominal |  | Financing |  | Carrying |  | Fair |  | Carrying |  | Fair
|  |  | Interest Rates |  | Amount |  | Costs |  | Amount (a) |  | Value (b) |  | Amount (a) |  | Value (b)
Senior notes |  |  | (i) 4.50%-6.875% |  | $ | 1,747.7 |  | $ | (7.9) |  | $ | 1,739.8 |  | $ | 1,999.5 |  | $ | 1,737.4 |  | $ | 1,881.9
Revolving credit facility |  |  | (ii) LIBOR plus 1.625% |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 100.0 |  |  | 100.0
Tasiast loan |  |  | (iii) LIBOR plus 4.380% |  |  | 200.0 |  |  | (15.9) |  |  | 184.1 |  |  | 200.0 |  |  | — |  |  | —
Total long-term and current debt |  |  |  |  | $ | 1,947.7 |  | $ | (23.8) |  | $ | 1,923.9 |  | $ | 2,199.5 |  | $ | 1,837.4 |  | $ | 1,981.9
Less: current portion |  |  |  |  |  | (500.0) |  |  | 0.3 |  |  | (499.7) |  |  | (509.3) |  |  | — |  |  | —
Long-term debt and credit facility |  |  |  |  | $ | 1,447.7 |  | $ | (23.5) |  | $ | 1,424.2 |  | $ | 1,690.2 |  | $ | 1,837.4 |  | $ | 1,981.9
| (a) |  | Includes transaction costs on senior notes financings.
| (b) |  | The fair value of senior notes is primarily determined using quoted market determined variables. See Note 10(c).
Schedule of scheduled debt repayments |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2026 and |  |  |
|  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | thereafter |  | Total
Senior notes |  | $ | 500.0 |  | $ | — |  | $ | — |  | $ | 500.0 |  | $ | — |  | $ | 750.0 |  | $ | 1,750.0
Tasiast loan |  | $ | — |  | $ | 40.0 |  | $ | 36.0 |  | $ | 32.0 |  | $ | 4.0 |  | $ | 88.0 |  | $ | 200.0
Total debt payable |  | $ | 500.0 |  | $ | 40.0 |  | $ | 36.0 |  | $ | 532.0 |  | $ | 4.0 |  | $ | 838.0 |  | $ | 1,950.0
Schedule of interest charges and fees |
Type of credit |  |  |  |  |
Revolving credit facility |  | LIBOR plus |  | 1.625 | %
Letters of credit |  | 1.0833 | - | 1.625 | %
Standby fee applicable to unused availability |  |  |  | 0.325 | %
Schedule of changes in liabilities arising from financing activities |
|  | Long - term debt |  | Lease |  | Accrued interest |  |  |
|  | and credit facilities |  | liabilities |  | payable(a) |  | Total
Balance as at January 1, 2020 |  | $ | 1,837.4 |  | $ | 54.9 |  | $ | 33.3 |  | $ | 1,925.6
Changes from financing cash flows |  |  |  |  |  |  |  |  |  |  |  |
Debt issued |  |  | 950.0 |  |  | — |  |  | — |  |  | 950.0
Debt repayments |  |  | (850.0) |  |  | — |  |  | — |  |  | (850.0)
Interest paid |  |  | — |  |  | — |  |  | (63.1) |  |  | (63.1)
Payment of lease liabilities |  |  | — |  |  | (20.7) |  |  | — |  |  | (20.7)
|  |  | 1,937.4 |  |  | 34.2 |  |  | (29.8) |  |  | 1,941.8
Other changes |  |  |  |  |  |  |  |  |  |  |  |
Interest expense and accretion |  | $ | — |  | $ | — |  | $ | 86.6 |  | $ | 86.6
Capitalized interest |  |  | — |  |  | — |  |  | 49.1 |  |  | 49.1
Capitalized interest paid |  |  | — |  |  | — |  |  | (47.9) |  |  | (47.9)
Additions of lease liabilities |  |  | — |  |  | 38.2 |  |  | — |  |  | 38.2
Accretion of lease liabilities |  |  | — |  |  | 3.0 |  |  | — |  |  | 3.0
Other cash changes |  |  | (12.8) |  |  | — |  |  | (13.8) |  |  | (26.6)
Other non-cash changes |  |  | (0.7) |  |  | (0.7) |  |  | (10.5) |  |  | (11.9)
|  |  | (13.5) |  |  | 40.5 |  |  | 63.5 |  |  | 90.5
Balance as at December 31, 2020 |  | $ | 1,923.9 |  | $ | 74.7 |  | $ | 33.7 |  | $ | 2,032.3
| (a) |  | Included in Accounts payable and accrued liabilities.
|  | Long - term debt |  | Lease |  | Accrued interest |  |  |
|  | and credit facilities |  | liabilities(a) |  | payable(b) |  | Total
Balance as at January 1, 2019(a) |  | $ | 1,735.0 |  | $ | 42.9 |  | $ | 33.3 |  | $ | 1,811.2
Changes from financing cash flows |  |  |  |  |  |  |  |  |  |  |  |
Debt issued |  |  | 300.0 |  |  | — |  |  | — |  |  | 300.0
Debt repayments |  |  | (200.0) |  |  | — |  |  | — |  |  | (200.0)
Interest paid |  |  | — |  |  | — |  |  | (55.6) |  |  | (55.6)
Payment of lease liabilities |  |  | — |  |  | (14.3) |  |  | — |  |  | (14.3)
|  |  | 1,835.0 |  |  | 28.6 |  |  | (22.3) |  |  | 1,841.3
Other changes |  |  |  |  |  |  |  |  |  |  |  |
Interest expense and accretion |  | $ | — |  | $ | — |  | $ | 74.0 |  | $ | 74.0
Capitalized interest |  |  | — |  |  | — |  |  | 47.4 |  |  | 47.4
Capitalized interest paid |  |  | — |  |  | — |  |  | (45.0) |  |  | (45.0)
Additions of lease liabilities |  |  | — |  |  | 22.9 |  |  | — |  |  | 22.9
Accretion of lease liabilities |  |  | — |  |  | 2.9 |  |  | — |  |  | 2.9
Other cash changes |  |  | — |  |  | — |  |  | (10.0) |  |  | (10.0)
Other non-cash changes |  |  | 2.4 |  |  | 0.5 |  |  | (10.8) |  |  | (7.9)
|  |  | 2.4 |  |  | 26.3 |  |  | 55.6 |  |  | 84.3
Balance as at December 31, 2019 |  | $ | 1,837.4 |  | $ | 54.9 |  | $ | 33.3 |  | $ | 1,925.6
| (a) |  | Total lease liabilities of $42.9 million was recognized upon the initial application of IFRS 16 as of January 1, 2019.
| (b) |  | Included in Accounts payable and accrued liabilities.

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