Consolidated Thompson Enters Into A New US$250 Million Revolving Credit Facility
Consolidated Thompson Mining (TSE:CLM) announced that it has secured a US$250 million senior revolving credit facility witha number of banks, some of which are : Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Desjardins.
Consolidated Thompson Mining (TSX:CLM) announced that it has secured a US$250 million senior revolving credit facility witha number of banks, some of which are : Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Desjardins.
The press release is quoted as saying:
The facility can be drawn in Canadian or US dollars and will bear interest at floating rates, plus a margin based on the leverage ratio of the Corporation. Both CLM and its subsidiary, The Bloom Lake Iron Ore Mine Limited Partnership, will have the ability to borrow under the facility. The obligations under the facility will be senior secured indebtedness ranking pari passu with the US$100 million senior secured bonds issued in January 2010. A portion of the facility can be used for the issuance of letters of credit, which will allow for the immediate release of the restricted cash currently shown on the balance sheet of the Corporation.
Brian V. Tobin, Executive Chairman, President and CEO of the Company says:
“The entering into this new revolving credit facility marks another important milestone in the development of our company, reinforcing our financial position as we implement our strategic and growth plans for the future. This second important financing transaction in two months once again demonstrates the strong support of the financial community for CLM as a profitable producing mining company.”
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1774.96 | +1.14 | |
Silver | 19.90 | +0.01 | |
Copper | 3.55 | +0.07 | |
Palladium | 2124.59 | +12.40 | |
Platinum | 936.51 | +2.50 | |
Oil | 88.53 | -0.01 | |
Heating Oil | 3.20 | -0.13 | |
Natural Gas | 8.01 | -0.12 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured {{ post.primary_section_name }} Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.