Gatos Silver, Inc.: debt financing — Gatos Silver enters amended $50M revolving credit facility with $50M accordion, maturity extended to Dec 2026

Gatos Silver, Inc.

Revolver principal amount of $50.0 million; accordion feature increased to provide up to an additional $50.0 million.
Maturity date extended to December 31, 2026; original facility had shorter tenor.
Interest margin ranges from 2.75%–3.75% (SOFR) or 1.75%–2.75% (base rate) based on leverage ratio.
Covenants include leverage ratio not greater than 3.00x, liquidity at least $20M, interest coverage at least 4.00x.
Facility replaces prior First Amended and Restated Credit Agreement dated December 20, 2022.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Gatos Silver, Inc. incurred revolving credit of $50.0 million with Bank of Montreal, Chicago Branch, as administrative agent at a variable index-based rate per year together with a margin based on the Company maturing December 31, 2026.

Instrument: revolving credit
Principal: $50.0 million
Counterparty: Bank of Montreal, Chicago Branch, as administrative agent
Rate: a variable index-based rate per year together with a margin based on the Company
Maturity: December 31, 2026
Event: incurrence

Exact text from the filing

financial institutions from time to time, as lenders. The Restated Credit Agreement continues to provide for a revolving line of credit (the “Revolver”) in a principal amount of $50.0 million while increasing the amount of the Revolver’s accordion feature to provide up to an additional $50.0 million under the Revolver, subject to certain conditions. The Restated

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Gatos Silver, Inc. entered into Restated Credit Agreement with Bank of Montreal, Chicago Branch, as administrative agent, BMO Capital Markets, as bookrunner and mandated lead arranger, and certain financial institutions, as lenders valued at $50.0 million (effective 2023-12-13).

Action: entry
Agreement: credit facility
Counterparty: Bank of Montreal, Chicago Branch, as administrative agent, BMO Capital Markets, as bookrunner and mandated lead arranger, and certain financial institutions, as lenders
Value: $50.0 million
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, Gatos Silver, Inc. (the “Company”) entered into a Second Amended and Restated Revolving Credit Facility (the “Restated Credit Agreement”) by and among the Company, certain subsidiaries of the Company from time to time party thereto, Bank of Montreal, Chicago Branch, as administrative agent, BMO Capital Markets, as bookrunner and mandated lead arranger, and Bank of Montreal, Chicago Branch and certain financial institutions from time to time, as lenders.

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-23-127320

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.