Hecla Mining repays term loan, gets $60 million revolving facility

By Sara Rosenberg

New York, Oct. 15 - Hecla Mining Co. repaid its term loan in full and closed on a new $60 million three-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The revolver is priced at Libor plus 600 basis points.

Scotia Capital and ING Capital LLC are the lenders on the revolver that will be used for general corporate purposes.

The $38.3 million term loan payment was made from the company's available cash resources, which, at quarter-end, were over $80 million.

Hecla is a Coeur d'Alene, Idaho-based miner, processor and explorer of silver and gold.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.