Pan American Silver Corp.  has entered into a new senior secured revolving credit facility with a syndicate of eight lenders.

The Facility is a $300 million secured revolving line of credit that matures on April 15, 2019 and is intended for general corporate purposes which could include capital expenditures, investments or potential acquisitions, when and if any such acquisitions are identified. The Bank of Nova Scotia and Canadian Imperial Bank of Commerce are Joint Lead Arrangers and Joint Bookrunners on the Facility and Administrative Agent and Syndication Agent, respectively, and HSBC Bank Canada is the Documentation Agent. The remaining syndicate members are Royal Bank of Canada, The Toronto-Dominion Bank, Société Générale, Bank of Montreal and Credit Suisse, AG. The terms of the Facility provide the Company with the flexibility of various borrowing and letter of credit options. With respect to loans drawn based on the average annual rate of interest at which major banks in the London interbank market are offering deposits in US Dollars ("LIBOR"), the interest margin on such loan is between 2.125% and 3.125% over LIBOR, depending on the Company's leverage ratio at the time of a specified reporting period.

Commenting on the Facility, Rob Doyle, Chief Financial Officer, said, "I am very pleased with the positive response that we have received from such a strong banking syndicate. The ability to borrow US$300 million adds further to our already healthy liquidity position and bolsters our financial strength and flexibility, which will allow us to quickly respond to our future funding needs, whether it be for organic growth projects or for future business development opportunities that may arise."

Pan American Silver's mission is to be the world's pre-eminent silver producer, with a reputation for excellence in discovery, engineering, innovation and sustainable development.