Capstone Copper increases revolver to C$700 million, extends to 2027

By Marisa Wong

Los Angeles, Sept. 25 – Capstone Copper Corp. announced it amended its existing revolving credit facility to increase the aggregate commitments to C$700 million from C$600 million and extend the maturity to September 2027 from May 2026, according to a press release.

The amended revolver will bear interest at adjusted term SOFR plus a margin of 200 basis points to 287.5 bps.

The company’s pro forma available liquidity position as of June 30 was about C$520 million, including cash, cash equivalents and short-term investments of about C$118 million and undrawn availability under the revolver of C$402 million.

“This represents a further step towards right sizing our credit facility to support our growth pipeline, highlighted by our Mantoverde Development Project, which remains on time and on budget. We are pleased to have achieved competitive terms and an extended maturity to 2027,” chief financial officer Raman Randhawa said in the release.

Canadian Imperial Bank of Commerce acted as administrative agent, joint bookrunner and co-lead arranger. Bank of Nova Scotia and ING Bank acted as joint bookrunners and co-lead arrangers.

Capstone Copper is an Americas-focused copper mining company based in Vancouver, B.C.

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