| Pan American Silver Enters Into New $300M Credit Facility - Analyst Blog | |
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Pan American Silver Corp. PAAS announced that it has entered into a new senior secured $300 million revolving credit facility with a consortium of eight lenders. This facility is scheduled to mature on Apr 15, 2019. According to the terms of the deal, Pan American Silver can avail the flexibility of various borrowings and letter of credit options as part of the facility.
The interest margin on loans drawn based on the average annual rate of interest at which major banks in the London interbank market are offering deposits in U.S. dollars ("LIBOR") will be between 2.125% and 3.125% over LIBOR, depending on Pan American Silver's leverage ratio at the time of a specified reporting period. The company plans to use the net proceeds from the credit facility for general corporate uses like capital expenditures, investments and potential acquisitions, if any.
The joint lead arrangers and joint bookrunners involved in this facility are the Bank of Nova Scotia and Canadian Imperial Bank of Commerce. Both are the respective Administrative Agent and Syndication Agent as well, whereas HSBC Bank Canada is the Documentation Agent. The rest of the lenders include Royal Bank of Canada, The Toronto-Dominion Bank, Societe Generale, Bank of Montreal and Credit Suisse, AG.
According to Pan American Silver, this ability to borrow will further add to its existing robust liquidity position and boost its financial strength and flexibility. This in turn will help the company to provide a quick response to its funding requirements for growth projects or business development opportunities in the future.
Pan American Silver currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the mining industry include Banro Corporation BAA, Newmont Mining Corporation NEM and Pretium Resources Inc. PVG, all carrying a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PRETIUM RES INC (PVG): Free Stock Analysis Report NEWMONT MINING (NEM): Free Stock Analysis Report BANRO CORP (BAA): Free Stock Analysis Report PAN AMER SILVER (PAAS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Banro Corporation
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PRODUCTEUR |
CODE : BAA |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Banro est une société de production minière d'or basée au Canada. Banro détient divers projets d'exploration en Republique Democratique Du Congo. Ses principaux projets en production sont LUGUSHWA et KAMITUGA en Republique Democratique Du Congo et ses principaux projets en développement sont TWANGIZA et NAMOYA en Republique Democratique Du Congo. Banro est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 120,8 millions US$ (102,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 août 2007 à 9,96 US$, et son plus bas niveau récent le 26 mai 2017 à 0,07 US$. Banro possède 1 098 579 968 actions en circulation. |