Three Banks to Arrange, Underwrite US$370-million Term Loan Facility for Mountain Province

Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) announced that it has arranged for three leading international banks to arrange and underwrite a senior secured term loan facility of as much as US$370 million.

It will be used to fund the company’s share of construction costs at the Gaucho Kue diamond mine.

As quoted in the press release:

Gahcho Kué is a joint venture between De Beers Canada Inc. (51%) and Mountain Province (49%).

Mountain Province has mandated Deutsche Bank A.G., acting through its London Branch, Natixis S.A. and Nedbank Limited as the lead arrangers (‘Lead Arrangers’) to underwrite, arrange and manage the primary syndication of the Facility, subject to the satisfaction of certain conditions including, but not limited to, the successful completion of due diligence and internal bank approvals of the Lead Arrangers and agreement of Facility documentation, which is expected prior to the end of 2014.

Click here to read the full Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) press release.