Trevali trims revolver in exchange for temporary waiver of covenants

By Sarah Lizee

Olympia, Wash., April 3 – Trevali Mining Corp. amended its revolving credit facility and reduced it to $125 million from $275 million in exchange for a waiver of the financial covenants until April 30, according to a press release.

The facility amendment contains a number of terms and restrictions, including a restriction on dividends and distributions, acquisitions and disposition of assets as well as a requirement that the company maintain a minimum level of liquidity.

Trevali said it is currently negotiating updated terms and conditions to the revolver that will apply after April 30, in addition to pursuing other financing opportunities to provide additional sources of liquidity.

Trevali is a Vancouver B.C.-based zinc-focused base metals mining company with operations in Peru and Canada.

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