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Aya Gold & Silver Announces US$100 Million Project Financing Facility for Zgounder Silver Mine Expansion
Aya Gold & Silver Announces US$100 Million Project Financing Facility for Zgounder Si...
About this update from Aya Gold & Silver Inc.
[{"type":"text","content":"\n \n \n \n Aya Gold & Silver Announces US$100 Million Project Financing Facility for Zgounder Silver Mine Expansion\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Aya Gold & Silver Announces US$100 Million Project Financing Facility for Zgounder Silver Mine Expansion\n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Oct. 25, 2022\n \n \n /CNW Telbec/ -\n \n \n Aya Gold\n \n & Silver Inc.\n \n (TSX: AYA) (OTCQX: AYASF) (\"Aya\" or the \"Corporation\") is pleased to report that its subsidiary, Zgounder Millennium Silver Mining SA (\"ZMSM\") has secured a\n \n US$100 million\n \n debt financing package to support expansion of the Zgounder Silver Project. The European Bank for Reconstruction and Development (\"EBRD\") has received final board approval to provide a Senior Debt Facility of\n \n US$92 million\n \n , while the Climate Investment Funds, through its Clean Technology Fund (\"CTF\"), is providing a\n \n US$8 million\n \n tranche, pari-passu with the EBRD. Customary documentation is expected to be finalized in the coming weeks.\n \n \n \n \n \n \n \n \n \n \n Highlights – Project Finance Facility\n \n \n \n Key terms of the loan agreement include:\n \n \n \n \n US$92 million\n \n loan provided by the EBRD\n \n \n \n US$8 million\n \n loan provided by the CTF, pari-passu with the EBRD loan\n \n \n CTF interest rate reduction following achievement of three ESG and operational milestones:\n \n \n \n Milestone 1: Task Force on Climate-related Financial Disclosures (\"TCFD\") report disclosed by end of 2023\n \n \n Milestone 2: Investment completion by end of 2024\n \n \n Milestone 3: Reaching \"advanced\" maturity on the TCFD Climate Governance and Strategy recommendation\n \n \n \n 6-year maturity\n \n \n \n 2-year principal grace period\n \n \n 24-month availability period\n \n \n \n \n \"We are thrilled to be partnering with the EBRD, who is highly committed to both\n \n Morocco\n \n and development of the Zgounder Silver Mine. The infrastructure build-out will serve as a regional catalyst, bringing additional investm...