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Tahoe Resources cuts revolving credit facility to US$175M from US$300M

Tahoe Resources Inc. said Feb. 20 that it revised the terms of its revolving credit facility, which now consists of a US$175 million revolving credit facility and a US$25 million accordion feature maturing July 19, 2021.

The company said access to the amended facility, which replaces the facility secured in July 2017, does not rely on the operation of its Escobal silver mine in Guatemala.

Production has been suspended at Escobal since mid-2017 as a result of Tahoe Resources' local subsidiary not consulting with indigenous communities in the area, and the company declared force majeure later that year.

The previous facility included a clause that would trigger a default if the mining license remained suspended as of April 1, 2018. The previous facility, comprising a US$300 million revolving credit facility with a US$50 million accordion feature, was also limited to US$75 million while the Escobal mining license was suspended.