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Aya Gold & Silver Closes US$100 Million Project Financing Facility for Zgounder Silver Mine Expansion
Aya Gold & Silver Closes US$100 Million Project Financing Facility for Zgounder Silver Mine E...
About this update from Aya Gold & Silver Inc.
[{"type":"text","content":"\n \n \n \n Aya Gold & Silver Closes 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 Closes 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 Feb. 7, 2023\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 announce the Corporation has closed the\n \n US$100 million\n \n project financing facility (the \"Facility\") to support construction of the Zgounder Silver Mine expansion in the Kingdom of\n \n Morocco\n \n .\n \n \n \n \n \n \n \n \n \n As announced in the news release dated\n \n October 25, 2022\n \n , the Facility consists of a\n \n US$92 million\n \n loan provided by the European Bank for Reconstruction and Development (\"EBRD\") and a\n \n US$8 million\n \n tranche (pari-passu with the EBRD) by the Climate Investment Funds through its Clean Technology Fund (\"CTF\").\n \n \n Key terms of the loan agreement remain unchanged and include:\n \n \n \n \n US$92 million\n \n loan provided by EBRD\n \n \n \n US$8 million\n \n loan provided by CTF. Interest rate is equal to the all-in rate at the time of signing reduced following achievement of three milestones:\n \n \n \n Milestone 1: Task Force on Climate-related Financial Disclosures (\"TCFD\") report disclosed by end of 2023 will result in a 25% rate reduction;\n \n \n Milestone 2: Completion of certain capital expenditure set out in the TCFD report and in the development plan by end of 2024 will result in a 50% rate reduction;\n \n \n Milestone 3: Reaching \"advanced\" maturity on the TCFD's Climate Governance and Strategy recommendation will result in reduction of interest to an all-in rate of 1.00%.\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 6-month SOFR (0% floor) + 5.00%\n \n \n \n CTF tranche can reduce to all-in rate of 1.00% following cer...