Trevali Mining enters revolver and second-lien facility agreements

By Taylor Fox

New York, Aug. 6 – Trevali Mining Corp. has entered into a second amendment and restated credit agreement with a syndicate of lenders for up to a $150 million first-lien secured revolving credit facility, according to a news release.

Trevali has also entered into an up to $20 million second-lien secured facility agreement with Glencore Canada Corp., an affiliate of the company’s largest shareholder, Glencore plc.

Glencore holds 26.3% of the issued and outstanding common shares of Trevali.

In combination, the two facilities provide additional liquidity to Trevali in the amount of up to $45 million and consist of the following:

• The minimum liquidity requirement under the amended revolver has been eliminated making available up to an additional $15 million.

• The availability under the amended revolver has been increased to $135 million making available up to an additional $10 million.

• A second-lien secured facility agreement with Glencore, which is based on 2020 deliveries of concentrate, making available up to an additional $20 million.

Trevali is a Vancouver B.C.-based zinc-focused base metals mining company with operations in Peru and Canada.

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