Business
Capstone Copper Extends and Expands Its Revolving Credit Facility
VANCOUVER, British Columbia / Jul 22, 2022 / Business Wire / Capstone Copper Corp. (“Capstone”) (TSX:CS) today announced that it has closed the amendment and ex
About this update from Capstone Copper Corp.
[{"type":"text","content":"VANCOUVER, British Columbia / Jul 22, 2022 / Business Wire / Capstone Copper Corp. (“Capstone”) (TSX:CS) today announced that it has closed the amendment and extension of the Capstone corporate revolving credit facility (“RCF”) from $225 million to $500 million plus $100 million accordion and extended the RCF by four years to May 12, 2026. Upon closing of the RCF, Capstone will repay the existing debt facility with Glencore Chile SpA (\"Glencore\") which was previously raised in connection with the Mantos Blancos Concentrator Development Project. Raman Randhawa, Capstone’s SVP and CFO commented, “The successful closing of our amended revolving credit facility, which has been right-sized for Capstone Copper along with improved terms and conditions will provide greater financial flexibility to support the execution of our future growth projects. In the near-term, our balance sheet and overall financial liquidity remains very strong to complete the construction and commissioning of our Mantoverde Development Project which is advancing well. We thank our lenders for their continuing support in the upsizing and extension of our revolver.” The RCF is with Canadian Imperial Bank of Commerce (Co-Lead Arranger, Joint Bookrunner and Administrative Agent), The Bank of Nova Scotia (Co-Lead Arranger and Joint Bookrunner and Syndication Agent), ING Capital LLC (Co-Lead Arranger and Joint Bookrunner), National Bank of Canada (Joint Documentation Agent), Wells Fargo Bank, N.A., Canadian Branch (Joint Documentation Agent), Citibank N.A., Bank of Montreal and Royal Bank of Canada. ABOUT CAPSTONE COPPER CORP. Capstone Copper Corp. is an Americas-focused copper mining company headquartered in Vancouver, Canada. We own and operate the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70% of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, we own the fully permitted Santo Domingo copper-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas. Capstone Copper’s strategy is to unlock transformational copper production growth while executing on cost and operational ...