Hecla Mining amends loan, pushing out maturity and reducing pricing

By Sara Rosenberg

New York, Dec. 28 - Hecla Mining Co. amended its credit facility, extending the maturity to Jan. 31, 2014, revising pricing and allowing for the issuance of secured and unsecured debt to governmental authorities, according to an 8-K filed with the Securities and Exchange Commission.

Pricing on the facility was reduced to a range of Libor plus 275 basis points to 350 bps, and the commitment fee was reduced to a range of 82.5 bps to 105 bps, based on leverage.

The Bank of Nova Scotia is the lead bank on the deal.

The amendment was effective on Dec. 22.

Hecla is a Coeur d'Alene, Idaho-based acquirer, developer, producer and marketer of silver, gold, lead and zinc.

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