On December 17, 2024, Canadian Imperial Bank of Commerce (“CIBC”), acting as administrative agent for a syndicate of seven international banks, provided a senior secured credit facility of up to US$1 billion (inclusive of a US$200 million accordion feature), together with associated commodity and metal hedging facilities, to B2Gold Corp. ("B2Gold"), a British Columbia–based gold mining company with operations across multiple continents.
The transaction was significant not only for its size and geographic scope, but also for the level of geopolitical, regulatory, and sanctions‑related risk addressed in its structuring. By successfully navigating these challenges, the financing delivered a robust and bankable capital solution that enhanced B2Gold’s liquidity, preserved operational flexibility, and reinforced lender protections across complex and high‑risk jurisdictions.
Fasken acted as lead counsel to CIBC, with a team led by Thomas Meagher and included Nathan Gates, Nicholas McFarlane, and Ashley Faerberboeck (Law Clerk).
Jurisdictions
- Canada
- Philippines
- United Kingdom
- British Virgin Islands
- Bahamas
- Mali
- Nambia
- Mauritius
