Triple Flag Announces Increase in Credit Facility at Improved Terms
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announces that it has secured amendments to its existing undrawn revolving credit facility (the “Credit Facility”), including an increase in the size of the Credit Facility at more favorable terms. All amounts are expressed in US dollars, unless otherwise indicated.
Under the amended agreement, the Company has a Credit Facility of $1 billion with an additional uncommitted accordion of up to $300 million. This represents an increase from the previous agreement that had a Credit Facility of $700 million and an accordion of up to $300 million.
Advances under the renewed Credit Facility are subject to interest at SOFR plus 1.325% to 2.75% per annum, depending on the Company’s leverage ratio. The amended interest rate spreads above SOFR have been reduced by 12.5 basis points at the lower end of the range, when compared to the previous Credit Facility agreement.
The Credit Facility has a term of four years, maturing in May 2030.
