First Majestic enters $75 million three-year senior secured revolver

By Marisa Wong

Morgantown, W.Va., May 11 – First Majestic Silver Corp. said it entered into an amended and restated credit agreement on Friday with Bank of Nova Scotia, Bank of Montreal and Investec Bank plc as lenders for a $75 million senior secured revolving credit facility.

Interest for the three-year revolver is Libor plus an applicable range based on some financial parameters of First Majestic, according to a press release. Pricing details were not disclosed.

The new credit facility replaces First Majestic’s existing credit facility with Scotia Bank and Investec entered into on Feb. 8, 2016. The prior facility consisted of a $25 million revolving credit line and a $35 million term loan.

First Majestic is a Vancouver, B.C.-based mining company focused on silver production in Mexico.

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