Osisko Gold increases revolver to C$400 million, extends to 2023

By Sarah Lizee

Olympia, Wash., Sept. 19 – Osisko Gold Royalties Ltd. amended its revolving credit facility, increasing the amount to C$400 million from C$350 million, according to an 8-K filing with the Securities and Exchange Commission.

There is an additional uncommitted accordion of up to C$100 million, for a total availability of up to C$500 million.

The term was extended by one year to Nov. 14, 2023.

The facility is to be used for general corporate purposes and investments in the mineral industry, including the acquisition of royalties, streams and other interests.

The lending syndicate is comprised of National Bank of Canada, Bank of Montreal, Bank of Nova Scotia, Export Development Canada, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank and Federation des Caisses Desjardins du Quebec.

National Bank Financial Markets acted as lead arranger and bookrunner. National Bank of Canada continues to act as administrative agent.

Montreal-based Osisko is a gold-focused royalty and stream company.

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