Victoria Gold amended its secured debt agreement dated Dec. 18, 2020, as amended Dec. 20, 2021 and June 16, 2022. The loan facility is comprised of a term loan and a revolving credit facility.
Pursuant to the amended loan facility, the company has added Desjardins and National Bank to the syndicate, replacing BNP Paribas. Desjardins and National Bank join Bank of Montreal and CIBC in the syndicate.
Pursuant to the amended loan facility, the company has increased the amount of the term facility by $25 million and extended the maturity date of the term facility to Sept. 30, 2024. The term facility is repayable in seven equal quarterly instalments through to the maturity date. There has been no change to the revolving credit facility which continues to have a limit of $125 million and a maturity date of Dec. 31, 2024.
“I would like to thank BNP Paribas for their support through the years as we brought the Eagle Gold Mine into operations. Looking forward, we are happy to have Desjardins and National Bank joining BMO and CIBC in the syndicate,” John McConnell, president and CEO of Victoria Gold , said. “The increase in the term facility will add greater flexibility to our balance sheet.”