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News Breaks | | | | December 12, 2011 | | 08:38 EDT |  | RVM | Revett Minerals announces $20M revolving credit facility
Revett Minerals announced that its wholly-owned subsidiary, the Revett Silver Company, has entered into a revolving credit agreement with Societe Generale as administrative agent. The US$20 million credit facility is subject to interest at the London Interbank Offered Rate plus 350 basis points for an initial three year term. The credit facility may be increased to US$30 million under specified circumstances. The credit facility may be used for general corporate purposes, including I Bed development at the Troy Mine, Phase I development at Rock Creek, and the financing of eligible acquisitions. Letters of credit issued under the facility may also be used to satisfy reclamation bonding requirements at the Troy Mine and the Rock Creek project. | |
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