Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Lundin Mining amends credit facility to increase amount and extend term.

Document Cited in Related
Vincent

NORDIC BUSINESS REPORT-August 29, 2019-Lundin Mining amends credit facility to increase amount and extend term

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Lundin Mining Corporation (STO:LUMI) (TSX:LUN) announced on Wednesday the execution of a third amended and restated credit agreement that increases its secured revolving credit facility to USD800m, with a USD200m accordion option.

Also, this credit agreement reduces the cost of borrowing and extends the term to August 2023, from October 2022.

This amendment and restatement increases available permitted indebtedness and lien allowances and includes additional revisions.

The amended credit facility bears interest on US dollar denominated drawn funds at rates of LIBOR+1.75% to LIBOR+2.75%, depending upon the company's net leverage ratio, reduced from the prior LIBOR+1.875% to LIBOR+3.00%.

According to the company, with this low-cost facility, its strong balance sheet and cash flow from operations, it will maintain significant financial liquidity and flexibility.

The Bank of Nova Scotia and ING Capital LLC acted as joint...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT