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OR Royalties Announces Increase of Credit Facility and Positive Net Cash Position
MONTRÉAL, June 09, 2025 (GLOBE NEWSWIRE) -- OR Royalties Inc. (the “ Company ...
About this update from Or Royalties Inc.
[{"type":"text","content":"OR Royalties Announces Increase of Credit Facility and Positive Net Cash Position\n\n\n\n MONTRÉAL, June 09, 2025 (GLOBE NEWSWIRE) -- OR Royalties Inc. (the “\n \n Company\n \n ” or “\n \n OR\n \n\n Royalties\n \n ”) (OR: TSX & NYSE) is pleased to announce that it has amended its existing revolving credit facility (the “\n \n Credit Facility\n \n ”), including the conversion from a Canadian dollar denominated facility to a United States dollar denominated facility, as well as an increase in the overall size of the Credit Facility. Amounts presented are in United States dollars, except where otherwise noted.\n \n\n Under the amended agreement, the Company has access to a Credit Facility of $650 million with an additional uncommitted accordion of up to $200 million, for a total availability of up to $850 million. The previous credit facility agreement had a maximum amount of C$550  million with an uncommitted accordion of up to C$200 million.\n \n\n Advances under the amended Credit Facility are subject to interest at the Secured Overnight Financing Rate (SOFR) or Canadian Overnight Repo Rate Average (CORRA) plus 1.45% to 2.75% per annum, depending on the Company’s leverage ratio, unchanged from the previous credit facility agreement. The Credit Facility has a term of four years, maturing on May 30\n \n th\n \n , 2029.\n \n\n Jason Attew, President & CEO of OR Royalties commented: “The expansion of our Credit Facility underscores the strength and quality of our asset portfolio and reflects the confidence in OR Royalties' long-term growth prospects. Combined with our current cash balance, the enhanced financial flexibility provided by the upsized facility positions us well to pursue strategic and accretive growth opportunities. We extend our sincere appreciation to our financial partners, whose continued support since OR Royalties' inception in 2014 has been instrumental in our success. We are also pleased to report that, as a result of robust operating cash flows and disciplined capital allocation, OR Royalties now holds a positive net cash position, further reinforcing our solid financial foundation.”\n \n\n The amended Credit Facility was led by National Bank of Canada and includes Bank of Montréal, Royal Bank of Canada and The Bank of Nova Sco...