Torex Gold Resources Inc.’s $335 Million Second Amended and Restated Credit Agreement

Cassels Brock & Blackwell, Sánchez Mejorada, Velasco y Ribé, Ritch Mueller and Fasken Martineau advised on the transaction

Minera Media Luna S.A de C.V., a wholly owned subsidiary of Torex Gold Resources Inc. (Torex), entered into a second amended and restated credit agreement (the Credit Agreement) with a syndicate of lenders led by BNP Paribas, as administrative agent. The Credit Agreement amends and restates the first amended and restated credit agreement, entered into in July 2017 (the 2017 Agreement), and provides for credit facilities totalling US$335 million. Key changes from the 2017 Agreement include a reduced interest rate, the removal of mandatory cash sweep covenants, and permitting increased spending to facilitate the development of Torex’s various growth and exploration projects.

Cassels acted for Torex with a deal team that included David Budd and Jenna Clark (Financial Services) and Jay Goldman (Securities).

In Mexico, Sánchez Mejorada, Velasco y Ribé advised Torex on the transaction.

Fasken Martineau advised BNP Paribas.

In Mexico, Ritch Mueller advised BNP Paribas with Jean Paul Farah Chajín (Picture) Gabriel Robles Beistegui and Enrique López Scherer.

Involved fees earner: David Budd – Cassels Brock & Blackwell LLP; Jenna Clark – Cassels Brock & Blackwell LLP; Jay Goldman – Cassels Brock & Blackwell LLP; Jean Paul Farah Chajín – Ritch, Mueller, Heather y Nicolau, SC; Enrique López Scherer – Ritch, Mueller, Heather y Nicolau, SC; Gabriel Robles Beistegui – Ritch, Mueller, Heather y Nicolau, SC;

Law Firms: Cassels Brock & Blackwell LLP; Ritch, Mueller, Heather y Nicolau, SC;

Clients: BNP Paribas; Torex Gold Resources;

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Author: Ambrogio Visconti.