On December 18, 2020, Victoria Gold Corp. entered into a credit agreement with a syndicate of banks, including BMO, CIBC and BNP Paribas, in connection with a secured US$200 million debt facility comprised of a US$100 million term loan and a US$100 million revolving facility (collectively, the “Facility”). The Facility has been used to repay the previously outstanding project finance facility, which included senior and subordinated debt that was used for the construction of the Eagle Gold Mine. The Revolving Credit Facility is available for general corporate purposes subject to customary terms and conditions.
Cassels acted for Victoria Gold with a deal team that included David Budd, Carla Potter, Winda Chan and Corina Capmare (Banking & Specialty Finance), Mike Tallim (ISDAs and Hedging), and Corinne Grigoriu (Tax).