Maverix Metals amended its revolving credit facility and increased the amount available by $40 million to $160 million. The syndicate of banks providing the facility include National Bank of Canada, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia and Bank of Montreal.
“We would like to thank our lenders for their continued support and confidence in our business,” Matt Fargey, CFO of Maverix Metals, said. “The increase and extension of our revolving credit facility will provide us with more capital to pursue accretive acquisitions of precious metals royalties and streams.”
The amounts drawn on the credit facility are subject to interest at LIBOR plus 1.875% to 3% per annum, and the undrawn portion of the credit facility is subject to a standby fee of 0.422% to 0.675% per annum, both of which are dependent on the company’s leverage ratio. The credit facility has a term of four years, maturing in September 2025. Currently, the company has nothing drawn from the credit facility and, therefore, the full $160 million remains available.
