Osisko Gold Royalties amended its revolving credit facility, increasing the amount from $350 million to $400 million, with an additional uncommitted accordion of up to $100 million, for a total availability of up to $500 million.
The term has been extended by one year to November 14, 2023. The facility is to be used for general corporate purposes and investments in the mineral industry, including the acquisition of royalties, streams and other interests.
The lending syndicate is comprised of National Bank of Canada, Bank of Montreal, The Bank of Nova Scotia, Export Development Canada, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank and Fédération des Caisses Desjardins du Québec. National Bank of Canada continues to act as administrative agent, and National Bank Financial Markets acted as sole lead arranger and bookrunner.
“We welcome Fédération des Caisses Desjardins du Québec to our strong group of financial partners. This $500 million facility will provide Osisko with strong liquidity to pursue its strategic plan of gaining exposure to high quality cash flow opportunities that complement its current high cash margin1 portfolio of royalties and streams,” said Sean Roosen, chair and chief executive officer of Osisko.
Montreal-based Osisko Gold Royalties is an intermediate precious metal royalty company that holds a North American focused portfolio of more than 135 royalties, streams and precious metal offtakes.