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Triple Flag Announces Increase in Credit Facility Availability to US$1 Billion at Improved Terms
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the ...
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"Triple Flag Announces Increase in Credit Facility Availability to US$1 Billion at Improved Terms\n\n\n\n\n\n\n Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announces that it has secured amendments to its existing undrawn revolving credit facility (the “Credit Facility”), including an increase in the size of the Credit Facility at more favorable terms. All amounts are expressed in US dollars unless otherwise indicated.\n \n\n Under the amended agreement, the Company has a Credit Facility of $700 million with an additional uncommitted accordion of up to $300 million, for total available liquidity of $1 billion. This represents an increase from the previous credit facility agreement that had a Credit Facility of $500 million and an accordion of up to $200 million.\n \n\n Advances under the renewed Credit Facility are subject to interest at SOFR plus 1.45% to 2.75% per annum, depending on the Company’s leverage ratio. The amended interest rate spreads above SOFR have been reduced by 30 basis points at the lower end of the range, when compared to the previous credit facility agreement.\n \n\n The Credit Facility has a term of four years, maturing in April 2029\n \n .\n \n\n\n “The increase in our Credit Facility on improved terms reflects the increased scale of Triple Flag, as well as our robust growth and financial outlook and zero debt balance. Together with our existing cash balance, the financial flexibility available under our renewed Credit Facility provides Triple Flag with significant capital to pursue accretive growth opportunities,” said Eban Bari, Chief Financial Officer.\n \n\n The amended Credit Facility was jointly led by National Bank of Canada, Bank of Nova Scotia and Canadian Imperial Bank of Commerce. Additionally, the syndicate includes Royal Bank of Canada, Toronto-Dominion Bank, Bank of America, Bank of Montreal and UBS.\n \n\n\n About Triple Flag Precious Metals\n \n\n\n Triple Flag is a precious metals streaming and royalty company. We offer investors exposure to gold and silver from a total of 236 assets, consisting of 17 streams and 219 royalties, primarily from the Americas and Australia. These streams and royalties are tied to mining assets at various stages of the mine life cy...