On May 26, 2014, Primero Mining Corp. closed a US$75 million revolving credit facility with a syndicate of lenders. The Line of Credit has a three year term and a floating interest rate.
Concurrent with and as a condition of closing the transaction, Primero repaid an outstanding $27 million promissory note held by Goldcorp Inc. bearing interest of 6% and originally due December 31, 2015.
Fasken Martineau was lead advisors to the Bank of Montreal and Scotiabank in the financing and intercreditor negotiations with Silver Wheaton Corp, Goldcorp Inc. and Primero with a team led by Thomas Meagher, and including John Torrey, Stuart Brotman, Brian Wright, Dan Law, Christopher Steeves, Dev Singh and Jason McMurtrie.
Client Work
Primero Mining secures US$75 million financing
Fasken
Reading Time
1 minute read
Overview
Overview
Team
Team
- Thomas Meagher, Partner, Toronto, ON, +1 416 865 5473, tmeagher@fasken.com
- John W. Torrey, Counsel, Toronto, ON, +1 416 865 4394, jtorrey@fasken.com
- Stuart Brotman, Partner | Leader, Insolvency & Restructuring, Toronto, ON, +1 416 865 5419, sbrotman@fasken.com
- Daniel R. Law, Partner, Toronto, ON, +1 416 868 3479, dlaw@fasken.com
- Christopher Steeves, Partner | Leader, Tax Law, Toronto, ON, +1 416 868 3401, csteeves@fasken.com
- Dev Singh, Partner | Co-Leader, Banking & Finance Group, Toronto, ON, +1 416 865 4452, dsingh@fasken.com
- Jason McMurtrie, Paralegal/Law Clerk, Toronto, ON, +1 416 943 8814, jmcmurtrie@fasken.com
