Wheaton Precious Metals extends $2 billion revolver, adds sustainability component

By Wendy Van Sickle

Columbus, Ohio, July 18 – Wheaton Precious Metals Corp. renewed its existing undrawn $2 billion revolving credit facility, adding a sustainability-linked element, according to a news release.

The revolver is now aligned with Wheaton's sustainability strategy, which includes a commitment to net zero carbon emissions by 2050.

The interest rate paid on drawn amounts and standby fees will be adjusted based upon Wheaton's performance in three sustainability-related areas, including attributable emissions from third-party mining partners’ operations covered by science-based emissions targets; diversity at the group's board and management levels; and the company’s S&P ESG score.

Wheaton extended the maturity date of the revolver by one year to July 18, 2027.

Bank of Nova Scotia and Bank of Montreal acted as joint bookrunners and co-lead arrangers. Bank of Montreal and Royal Bank of Canada acted as co-lead sustainability structuring agents and coordinators, and Scotia and Canadian Imperial Bank of Commerce acted as co-sustainability agents.

Wheaton Precious Metals is a Vancouver, B.C.-based precious metals streaming company.

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