Business
Mountain Province Diamonds Announces Completion of Refinancing Transactions
Mountain Province Diamonds Announces Completion of Refinancing Transactions Canada News...
About this update from Mountain Province Diamonds Inc.
[{"type":"text","content":"\n\n\n\n Mountain Province Diamonds Announces Completion of Refinancing Transactions\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\n Canada NewsWire\n \n\n\n\n\n TSX and OTC: MPVD\n \n\n\n\n\n TORONTO\n \n and\n \n NEW YORK\n \n\n ,\n \n\n March 19, 2025\n \n\n /CNW/ - Mountain Province Diamonds Inc. (\"\n \n\n Mountain Province\n \n\n \" or the \"\n \n Company\n \n \") (TSX: MPVD) (OTC: MPVD) today announces the closing of the refinancing transactions (the \"\n \n Refinancing Transactions\n \n \") announced on\n \n February 25, 2025\n \n . Concurrently with the closing of the Refinancing Transactions, the Company has delivered a funding request for\n \n US$20M\n \n pursuant to the bridge credit facility agreement dated\n \n February 24, 2025\n \n (the \"\n \n Term Loan Agreement\n \n \") with Dunebridge Worldwide Ltd. as administrative agent, security trustee and lender, and the guarantors named therein as announced on\n \n February 25, 2025\n \n .\n \n\n\n Mark Wall\n \n , the Company's President and Chief Executive Officer, commented:\n \n\n \"The Company is pleased to have closed the Refinancing Transactions. These transactions serve to address the reclamation liabilities owed to De Beers as operator of the GK Mine, provide an immediate injection of capital to address the 2025 near cash flow deficit faced by the Company, and extend the term of the Second Lien Notes to\n \n December 2027\n \n , which were due to mature in\n \n December 2025\n \n .\n \n\n I would like to reiterate my gratitude to Mr.\n \n Dermot Desmond\n \n who continues to be a stalwart supporter of the Company, the holders of the Second Lien Notes and De Beers for their continued support of\n \n Mountain Province\n \n throughout this process.\"\n \n\n As set out in the Company's news release of\n \n February 25, 2025\n \n , the completion of certain aspects of the Refinancing Transactions was subject to the approval (\"\n \n Noteholder Consent\n \n \") of the holders of 90% aggregate principal amount of the 9.000% senior secured notes due\n \n ...