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LONG-TERM DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure of financial liabilities [line items] |
Disclosure of detailed information about borrowings [text block] | Long-term debt consists of the following:
| As at December 31 | As at December 31
(in millions of U.S. dollars) | 2018 | 2017
LONG-TERM DEBT |  |
Senior unsecured notes - due November 15, 2022 (a) | 495.3 | 494.3
Senior unsecured notes - due May 15, 2025 (b) | 285.2 | 283.4
Credit Facility (c) | - | 230.0
Total long-term debt | 780.5 | 1,007.7
Disclosure of detailed information about applicable redemption prices on unsecured notes [text block] | During the 12-month period beginning on November 15 of the years indicated at the redemption prices below, expressed as a percentage of the principal amount of the 2022 Unsecured Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date:
| ·
Date | Redemption prices (%)
2018 | 102.08%
2019 | 101.04%
2020 and thereafter | 100.00%
Disclosure of detailed information about applicable redemption prices on 2025 Unsecured Notes [text block] | During the 12-month period beginning on May 15 of the years indicated at the redemption prices below, expressed as a percentage of the principal amount of the 2025 Unsecured Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date:
Date | Redemption prices (%)
2020 | 104.78%
2021 | 103.19%
2022 | 101.59%
2023 and thereafter | 100.00%
Detailed information about significant convenants [text block] | Significant financial covenants are as follows:
| Twelve months ended December 31 | Twelve months ended December 31
Financial Covenant | 2018 | 2017
FINANCIAL COVENANTS |  |  |
Minimum interest coverage ratio (Adjusted EBITDA to interest) | >3.0 : 1 | 4.5 : 1 | 4.7 : 1
Maximum leverage ratio (net debt to Adjusted EBITDA) | <4.5 : 1 | 2.6 : 1 | 3.1 : 1
Maximum secured leverage ratio (secured debt to Adjusted EBITDA) | <2.0 : 1 | 0.4 : 1 | N/A
Disclosure of reconciliation of liabilities arising from fnancing activities explanatory [text block] | The following is a summary of the changes in liabilities arising from financing activities for the year ended December 31, 2018:
| As at December 31, 2017 | Borrowings | Repayments | Fair Value changes | Interest & Accretion | Foreign Exchange | As at December 31, 2018
LIABILITIES ARISING FROM FINANCING ACTVITIES |  |  |  |  |  |  |
Long-term debt | 1,007.7 | - | (230.0) | - | 2.8 | - | 780.5
Interest payable (1) | 6.9 | - | (59.4) | - | 59.4 | - | 6.9
Gold stream obligation | 273.5 | - | (15.0) | (78.3) | - | - | 180.2
Total | 1,288.1 | - | (304.4) | (78.3) | 62.2 | - | 967.6
| 1. | For the purposes of this reconciliation, interest paid for the year ended December 31, 2018 excludes $3.8 million in standby fees on the Credit Facility and
fees on the Company’s issued letters of credit.

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