Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ero Copper Corp. (ERO) has increased its senior secured revolving credit facility from $75 million to $150 million
  • The company’s unrestricted cash and cash equivalent is approximately $510 million, including $150 million of undrawn availability under the amended credit facility
  • Ero Copper Corp is a Vancouver-based copper producer
  • Ero Copper Corp. (ERO) opened trading at C$14.34

Ero Copper Corp. (ERO) has increased its senior secured revolving credit facility from $75 million to $150 million.

The maturity date has been extended from March 2025 to December 2026.

The company’s unrestricted cash and cash equivalent is approximately $510 million, including cash and cash equivalents of approximately $210 million, short-term investments of approximately $150 million, and $150 million of undrawn availability under the amended credit facility.

Wayne Drier, Chief Financial Officer, commented on the news.

“We are pleased to have achieved improved terms on our senior secured revolving credit facility, including a 25 basis point reduction to our applicable margin on drawn funds, reduced standby fees on undrawn commitments and extended maturity to the end of 2026,”

The amended credit facility includes standard and customary terms and conditions with respect to fees, representations, warranties, and financial covenants. The Bank of Montreal acted as Administrative Agent, Joint Lead Arranger, and Sole Bookrunner. The Bank of Nova Scotia acted as Joint Lead Arranger, and Canadian Imperial Bank of Commerce acted as Documentation Agent.

Ero Copper Corp is a Vancouver-based copper producer with operations in Brazil.  The company’s primary asset is a 99.6 per cent interest in the Brazilian copper mining company, Mineração Caraíba S.A. 

Ero Copper Corp. (ERO) opened trading at C$14.34.


More From The Market Herald
Parkview Project in New World Island, Newfoundland

" Lithium One (TSXV:LONE) expands land position in Northwest Ontario

Lithium One Metals (LONE) has signed an agreement to acquire an additional lithium property.

" Candente Copper (TSX:DNT) Closes Private Placement With Fortescue Metals

Candente Copper (DNT) closes the previously announced private placement with Nascent Exploration Fortescue Metals Group, raising $4,000,000.

" BeWhere (TSXV:BEW) launches BeMini asset tracker on Geotab Marketplace

BeWhere (BEW) announced the launch of its BeMini on Geotab’s Marketplace.

" LithiumBank (TSXV:LBNK) to develop Boardwalk and Park Place lithium brine projects

LithiumBank Resources (LBNK) has released key milestones for its Boardwalk and Park Place lithium projects.