In light of the issues at its Pacific operations, gold producer St Barbara has increased its finance facility.

A four-year term facility with Barclays Bank and Deutsche Bank will increase from $120 million to $150 million, while National Australia Bank will continue to provide a $25 million performance facility.

The providers may elect for $50 million to be repaid by May 31, 2013, or otherwise be repaid by December 24, 2013. The remaining $100 million is repayable in instalments over the term of the loan.

The company said agreement was reached with its financiers to change its debt facilities to “better align with the quantum and amortisation profile of debt with the working capital and investment requirements of the Pacific operations”.

Last month St Barbara listed its total debt at $195 million with gearing of 20 per cent.

On Friday the company said the Simberi mine in Papua New Guinea and the Gold Ridge mine in the Solomon Islands – acquired through the $556 million takeover of Allied Gold – were unlikely to show any improvement until the end of the 2013 financial year and working capital and cash support for the mines would continue.

St Barbara now expects each mine to deliver 55,000-60,000 ounces of gold in FY13, down from the combined nameplate production of around 200,000oz per annum.

Total investment in the operations for FY13 is expected to be $80-90 million, which includes a cost overrun of the Simberi plant expansion and a $14-24 million negative contribution from Gold Ridge in the December and March quarters.

Shares in St Barbara gained 2.1 per cent, or 3c, to $1.455.