Lundin Mining increases credit facility to $800m
Diversified Canadian miner Lundin Mining said on Wednesday it amended a credit agreement that increases its secured revolving credit facility by $250-million to $800-million.
The Toronto-based company, with an option to raise the credit facility by another $200-million, said it had also extended the agreement term to August 2023, from October 2022.
Lundin, which has a market value of C$4.40-billion, said the "low-cost facility" and cash flow from operations would help it to maintain significant financial liquidity and flexibility.
Bank of Nova Scotia and ING Capital acted as joint lead arrangers and bookrunners.
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