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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Claude Secures $25MM Credit Facility With Scotiabank
Tuesday, September 22, 2015
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Lenders/Participants
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The Bank of Nova Scotia [Lender]
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Structure
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$10MM Revolving Tranche; $15MM Term Loan
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Amount
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$25.000
Million
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Borrower(s)
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Claude Resources Inc.
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Description
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A senior secured credit facility ("facilities") consisting of a Revolving Tranche ("revolver") in the amount of $10.0 million and a Term Loan Tranche ("term loan") in the amount of $15.0 million. These facilities will be used to replace the company's $19.9 million, 10% term loan managed by Crown Capital Partners Inc. and its undrawn revolving credit facility with Canadian Western Bank. The revolver and term loan have a three year term maturing in September of 2018. The interest rate on both facilities will be dependent on the company's total debt to EBITDA ratio and range between 3% to 4% over Prime, or bankers' acceptances plus a margin of 4% to 5%. The term loan will be repaid in equal installments of $1.25 million per quarter up to and including the maturity date. There is no penalty for early repayment on either facility.
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Industry
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Metals and Mining
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| Related Tags |
The Bank of Nova Scotia
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ABL Advisor
Deal Tables
2025
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