Primero draws $50 million credit line to fund convertibles redemption

By Susanna Moon

Chicago, Feb. 10 – Primero Mining Corp. said it has drawn $50 million on its $75 million line of credit to fund the redemption of some convertible notes.

The company will be redeeming its $48.1 million outstanding 6.5% senior convertible debentures due March 31, 2016 with cash, according to a company announcement.

The line of credit had been previously undrawn.

Primero is a precious metals producer based in Toronto.

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