North American Palladium eliminates balance on revolving credit facility

Chicago, May 2 – North American Palladium Ltd. reported with its first-quarter results that it eliminated the total cash balance on its credit facility, C$37 million during the quarter.

With the elimination of debt, at the end of the quarter the company had total liquidity of C$165.5 million, consisting of C$29.1 million of cash and cash equivalents and C$136.4 million, or $102.1 million in U.S. dollars, under the company’s credit facility. The company’s outstanding debt of C$10.9 million is solely related to equipment leases, according to the notice.

The platinum group metals exploration company is based in Toronto.

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