Silver Wheaton officials announced the closing of a $1 billion non-revolving three-year term loan, extendable by one year pending unanimous lender consent. The tender has been slated to repay the outstanding balance of $560 million on its bridge facility and $440 million on its revolving facility.
Silver Wheaton officials, for their part, were confident of their balance sheets “and our ability to swiftly repay the outstanding debt,” said Randy Smallwood, Silver Wheaton’s president and CEO. “The company received strong support from banks that participated in this new loan which, together with strong cash flows, positions the company for continued growth.”
Silver Wheaton now has a total of $1.06 billion and $60 million outstanding debts under the revolving facility, maturing in Q1 2018. The bridge facility was terminated.