Hudbay upsizes corporate revolving credit facility to $300 million

By Toni Weeks

San Luis Obispo, Calif., March 13 – Hudbay Minerals Inc. closed on an upsized $300 million corporate revolving credit facility due March 2018 on Friday.

The company announced on Feb. 19 that it had received commitments from a syndicate of Canadian banks to increase the revolver to $250 million from $100 million, and then increased the size further due to “strong interest from its lenders.”

The new revolving credit facility contains substantially similar terms to the $100 million credit facility that it replaced and that was co-arranged by Bank of Nova Scotia and Canadian Imperial Bank of Commerce.

Proceeds are intended to provide Hudbay with additional liquidity as its Constancia project ramps up to commercial production and will also be used to support the company’s growth.

Hudbay is a Toronto-based integrated mining company.

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