J.M. Smucker entered into a $1.5 billion term loan credit agreement with Bank of America. The funds will be used to finance the company’s recent acquisition of Ainsworth Pet Nutrition.
Boralex extended the maturity of its C$460 million ($357 million) revolving credit facility to April 27, 2022. National Bank of Canada acted as lead arranger and administrative agent on the amendment.
Tahoe Resources amended its credit agreement, giving the company access to a $175 million revolving credit facility plus a $25 million accordion feature. The Bank of Nova Scotia served as administrative agent.
WEX repriced its secured term loans under its existing credit facility. Bank of America acted as administrative agent, joint lead arranger and joint bookrunner.
Reuters reported that nine banks, including Royal Bank of Canada, Bank of Montreal and the National Bank of Canada, are being sued in the U.S. for conspiring to rig a Canadian rate benchmark.
Multi-metals business Nyrstar refinanced its existing €500 million ($592.38 million) multi-currency structured commodity trade finance facility due to expire in June 2019 with a one year runoff period starting in June 2018.
Sandstorm Gold amended its revolving credit agreement, allowing the company to borrow up to $150 million for general corporate purposes. The Bank of Nova Scotia, among others, led the amendment.
Pattern Energy Group amended its credit agreement, downsizing its revolving credit limit from $500 million to $440 million.
Whitecap Resources entered into an agreement to purchase light oil assets in Southeast Saskatchewan for $940 million. National Bank of Canada served as administrative agent for an increase of the company’s facility to $1.7 billion to support the purchase.
Osisko Gold Royalties amended its revolving credit facility, increasing the amount from $150 million to $350 million, with an additional uncommitted accordion of up to $100 million.