https://www.engineeringnews.co.za

Pretivm refinances Brucejack construction loan

4th October 2018

By: Creamer Media Reporter

     

Font size: - +

Intermediate gold producer Pretivm Resources has secured a commitment letter to refinance the Brucejack construction credit facility, ticking another milestone set out for the year, CEO Joseph Ovsenek announced on Thursday.

The commitment letter provides for a fully underwritten $480-million debt facility with the Bank of Nova Scotia, Societe Generale and ING Capital.

Upon execution of the loan documentation, the facility will be available by way of a $250-million senior secured amortising non-revolving credit facility and a $230-million senior secured revolving credit facility.

Pretivm will use the loan to refinance the existing Brucejack mine construction credit facility of about $423-million, which is due on December 31, 2018.

Funds from the revolving facility will also be available for general corporate purposes including, if necessary, the repurchase of 100% of the existing 8% precious metals stream.

The loan facility will mature four years from the closing date, which is expected this quarter.

“We are focused on execution and delivery at Pretivm, and securing a signed commitment letter to refinance our construction credit facility is another 2018 milestone we have delivered on,” said Ovsenek.

The Brucejack mine is in northern British Columbia.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.059 1.112s - 140pq - 2rq
Subscribe Now