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Client Work

Primero Mining secures US$75 million financing

Fasken
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Bank of Montreal and The Bank of Nova Scotia

On May 26, 2014, Primero Mining Corp. closed a US$75 million revolving credit facility with a syndicate of lenders. The Line of Credit has a three year term and a floating interest rate. Concurrent with and as a condition of closing the transaction, Primero repaid an outstanding $27 million promissory note held by Goldcorp Inc. bearing interest of 6% and originally due December 31, 2015. Fasken Martineau was lead advisors to the Bank of Montreal and Scotiabank in the financing and intercreditor negotiations with Silver Wheaton Corp, Goldcorp Inc. and Primero with a team led by Thomas Meagher, and including John Torrey, Stuart Brotman, Brian Wright, Dan Law, Christopher Steeves, Dev Singh and Jason McMurtrie.

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