Nomad Royalty Company Ltd announced that it has closed its previously announced amended revolving credit facility for US$125 million with the option to increase it to US$150 million.
On August 30, 2021, the Montreal-based gold and silver royalty company first announced that it has secured commitments with The Bank of Nova Scotia, Canadian Imperial Bank of Commerce (CIBC) and The Royal Bank of Canada (RBC) to increase its revolving credit facility, subject to satisfaction of certain conditions.
READ: Nomad Royalty Company announces major milestone as company is set to list on New York Stock Exchange
In a statement, Nomad CFO Elif Lévesque said: "Scotia, CIBC and RBC continue to be strong financial partners to Nomad. The completion of the increased facility will provide us with additional financial flexibility as we grow our business through accretive opportunities."
Nomad Royalty is a gold and silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 15 royalty and stream assets, of which 8 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties.
Contact the author Uttara Choudhury at firstname.lastname@example.org
Follow her on Twitter: @UttaraProactive