- Triple Flag Precious Metals Corp. (TFPM, Financial) increases its credit facility to $1 billion.
- The amended facility carries lower interest rates, ranging from SOFR plus 1.45% to 2.75%.
- The facility is led by major banks including National Bank of Canada and Bank of Nova Scotia.
Triple Flag Precious Metals Corp. (TFPM) has announced an increase in its revolving credit facility to a total of US$1 billion. This enhancement includes a $700 million committed facility and an additional $300 million uncommitted accordion, reflecting a significant rise from the previous $500 million facility and $200 million accordion. The company has managed to secure improved terms, with a reduction of 30 basis points in interest rates at the lower end, now ranging from SOFR plus 1.45% to 2.75% depending on its leverage ratio.
The new credit facility, which has a term extending to April 2029, was led by the National Bank of Canada, Bank of Nova Scotia, and Canadian Imperial Bank of Commerce. Other participants in the syndicate include Royal Bank of Canada, Toronto-Dominion Bank, Bank of America, Bank of Montreal, and UBS.
Eban Bari, Chief Financial Officer of Triple Flag, highlighted that the increased facility and favorable terms underscore the company's growth and strong financial outlook. The additional liquidity, along with existing cash balances, will provide Triple Flag with substantial capital to pursue growth opportunities.
Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company, offering exposure primarily to gold and silver from 236 assets across the Americas and Australia. The company is listed on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker "TFPM".
