Equinox Gold has converted its $100 million Mesquite acquisition facility into a senior secured $130 million corporate revolving credit facility with the existing syndicate of lenders led by the Bank of Nova Scotia.
The revolving credit facility matures on October 30, 2022, at which date it must be repaid in full, and incurs interest at an annual rate of LIBOR plus 2.5% to 4%, subject to certain leverage ratios.
Under the terms of the revolving credit facility, $100 million was immediately available at closing. An additional $30 million will be made available on registration of certain security documents, the achievement of commercial production at the company’s Aurizona Mine in Brazil and the satisfaction of customary conditions.
