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Torex Gold Resources Inc. Completes US$335 Million Second Amended and Restated Credit Agreement

Published: 08/01/2019

Team: David Budd, Jenna Clark, Jay Goldman

On July 30, 2019, 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).