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Silver Wheaton to raise US$500M from bought deal financing


Essential Metals & Mining Insights – February 2021


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Essential Metals & Mining Insights - January 2021

Silver Wheaton to raise US$500M from bought deal financing

said March 30 thatit has entered into an agreement with a syndicate of underwriters led by RBC CapitalMarkets, BMO Capital Markets, CIBC Capital Markets and Scotiabank whereby they willpurchase, on a bought deal basis, 30,125,000 common shares of the company at US$16.60apiece for aggregate gross proceeds of US$500 million.

The underwriterswere also granted an option to purchase up to 4,518,000 additional common sharesat the same purchase price, on the same terms and conditions as the offering, exercisablewithin 30 days following closing.

Should the underwritersexercise the option, aggregate gross proceeds will increase to approximately US$575million.

Net proceedswill be used to repay a portion of the debt that was drawn on the company's US$2billion revolving credit facility in November 2015 for the US$900 million of the silver streamon the Antaminamine in Peru.

As at Dec. 31,2015, Silver Wheaton had around US$103 million in cash on hand and US$1.47 billionoutstanding under the credit facility.