Ecora Resources amends, extends $150 million revolver

By Marisa Wong

Los Angeles, Jan. 31 – Ecora Resources plc announced it entered into an amendment and extension of its $150 million revolving credit facility agreement with its existing syndicate of Scotiabank, CIBC and RBC.

The agreement includes an uncommitted accordion feature of up $75 million to be used to fund royalty acquisitions that, if implemented, would take the potential borrowing capacity up to $225 million, according to a news release.

The facility has a maturity date of January 2027 with the potential to extend the tenor twice by up to 12 months on each occasion.

The revolver is largely on the same terms as the prior facility and will bear interest at SOFR plus a ratchet between 225 basis points and 400 bps, depending on leverage levels.

Ecora is a London-based royalty company that supports the mining sector.

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