trending Market Intelligence /marketintelligence/en/news-insights/trending/2QHLi1C524_Jkh4Ro-Ez9Q2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Imperial Metals refinances US$98.4M senior notes, extends 4 credit facilities

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Imperial Metals refinances US$98.4M senior notes, extends 4 credit facilities

Imperial Metals Corp. said March 14 that it secured extensions on four credit facilities due to expire March 15 on the terms that it refinance and extend US$325 million of senior unsecured notes due March 15.

It said Edco Capital Corp. agreed to subscribe for US$98.4 million of additional senior notes to enable the company to complete the refinancing. The remaining security holders of US$226.6 million agreed to extend the maturity date until Sept. 15.

As a result, Imperial Metals' senior credit facility maturity date was extended to Sept. 5, its second lien credit facility was extended to Sept. 9, its bridge loan to Sept. 11 and its junior credit facility to Sept. 12.

The company, which previously extended the maturity dates of three of the facilities, had a working capital deficiency of C$819.7 million as of September 2018, which included C$728.4 million of current debt.

It recently completed the sale of a 70% interest in its Red Chris copper-gold mine in British Columbia for US$806.5 million, after kicking off a restructuring process in late 2018.