Trevali Mining Corporation’s $275 Million Revolving Credit Facility


McCarthy Tétrault, Estudio Echecopar (Baker & McKenzie) and Philippi Prietocarrizosa Ferrero DU & Uría advised on the deal

Trevali Mining Corporation (TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) has entered into an amended and restated credit agreement with a syndicate of lenders for a US$275 million revolving. The New Facility replaces the US$160 million term loan facility and the US$30 million revolving facility entered into in August 2017.

The New Facility will bear interest on a sliding scale: (i) at a rate of LIBOR plus between 2.0% to 3.0%; or (ii) at a base rate plus between 1.0% to 2.0%, based on the Company’s consolidated leverage ratio. Commitment fees for the undrawn portion of the facility will also be on a sliding scale between 0.45% to 0.675%. The term of the New Facility is four years, maturing on September 18, 2022. The Company expects to realize savings of up to US$5 million over the term of the New Facility due to the reduction in interest and standby fee rates. Proceeds from the New Facility will be used for working capital and general corporate purposes.

The Bank of Nova Scotia acted as Administrative Agent, Joint Bookrunner and Co-Lead Arranger and HSBC Bank Canada acted as Joint Bookrunner and Co-Lead Arranger. The lending syndicate is comprised of The Bank of Nova Scotia, HSBC Bank Canada, Société Générale, Bank of Montreal, The Toronto-Dominion Bank, National Bank of Canada and ING Capital LLC.

McCarthy Tétrault advised Trevali Mining Corporation with Christopher Langdon (Picture), Heba Al-Shakarchi, Taha Qureshi, Kate DaSilva and Sarah Ferguson.

Estudio Echecopar (Baker & McKenzie) advised Trevali Mining Corporation with Rafael Picasso, Valentín Paniagua, Ina María Drago, Andrea Cáceres and Cynthia Delgado de la Flor.

Philippi Prietocarrizosa Ferrero DU & Uría advised Scotiabank, HSBC Bank Canada, Société Générale, Bank of Montreal, National Bank of Canada, ING Capital LLC and Toronto-Dominion Bank with Rafael Puiggros, Hernán Torres, Luciana Carpio-Rivero, Fabio Ruesta and Sergio Cueva.

Involved fees earner: Rafael Puiggros – Philippi Prietocarrizosa Ferrero DU & Uría; Luciana Carpio–Rivero D’Angelo – Philippi Prietocarrizosa Ferrero DU & Uría; Hernán Torres Álvarez – Philippi Prietocarrizosa Ferrero DU & Uría; Sergio Cueva Chauca – Philippi Prietocarrizosa Ferrero DU & Uría; Christopher Langdon – McCarthy Tétrault; Heba Al-Shakarchi – McCarthy Tétrault; Taha Qureshi – McCarthy Tétrault; Rafael Picasso – Baker McKenzie; Andrea Cáceres Paredes – Baker McKenzie; Valentin Paniagua – Baker McKenzie; Ina Maria Drago – Baker McKenzie; Cynthia Delgado – Baker McKenzie;

Law Firms: Philippi Prietocarrizosa Ferrero DU & Uría; McCarthy Tétrault; Baker McKenzie;

Clients: Société Générale; Scotiabank; Bank of Montreal; Toronto-Dominion Bank; ING Capital LLC; National Bank of Canada Financial Inc.; Trevali Mining Corporation; HSBC Bank Canada;

Author: Ambrogio Visconti