Scotiabank Closes Hudbay Revolver to $300 million
HudBay Minerals closed a $300 million corporate revolving credit facility. On February 19, 2015, Hudbay announced that it had received commitments from a syndicate of Canadian banks, including its current lenders, to increase the size of its corporate revolving credit facility from $100 million to $250 million. Due to strong interest from its lenders, Hudbay has further increased the size of the facility to $300 million.
The new $300 million revolver is on substantially similar terms to the $100 million credit facility that it replaced and was co-arranged by The Bank of Nova Scotia and Canadian Imperial Bank of Commerce.
The facility intended to provide the company with additional liquidity as its Constancia project ramps up to commercial production and to support the growth of its business. The new credit facility matures in March 2018.
Hudbay is a Canadian integrated mining company with assets in North and South America principally focused on the discovery, production and marketing of base and precious metals.