Coeur d'Alene Mines amends, restates term loan to allow up to $100 million of borrowings

By Sara Rosenberg

New York, Dec. 30 - Coeur d'Alene Mines Corp. amended and restated its $45 million secured term loan to permit borrowings of up to $100 million, according to an 8-K filed with the Securities and Exchange Commission.

The term loan due Dec. 31, 2015 is priced at Libor plus 450 basis points.

Proceeds are available for general corporate and working capital purposes, to fund capital expenditures or to repay obligations.

Covenants include a debt to equity ratio of 40% and a ratio of project cash flow to debt service of 125%.

Credit Suisse is the agent on the deal.

The amendment and restatement was completed on Dec. 20.

In addition, the company has entered into an agreement with some holders of its senior term notes due 2012 to purchase $36.67 million of the notes at a premium of 118 plus accrued interest. The purchase was expected to be completed on Dec. 27.

Coeur d'Alene is a Coeur d'Alene, Idaho-based operator, owner, explorer, developer and miner of silver and gold properties.

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