25 October, 2018 Peru

Canada’s Trevali Mining gets refinancing

Banking, Finance and Capital Markets

McCarthy Tetrault LLP in Toronto and Estudio Echecopar member firm of Baker McKenzie International in Lima have helped Canadian mining company Trevali Mining obtain a US$275 million loan to fund its worldwide operations, including its Santander zinc mine in Peru.

The lenders enlisted Philippi Prietocarrizosa Ferrero DU & Uría (Peru). Fasken Martineau DuMoulin LLP in Toronto is also thought to have advised the banks, but this could not be confirmed prior to publication. The deal was signed on 18 September.

Trevali will use the proceeds as working capital and to fund general corporate matters. The credit facility replaces a previous financing package obtained in 2017, which included a US$160 million senior term loan and a US$30 million senior secured revolving capital facility. Estudio Echecopar helped Trevali on that deal too alongside Cassels Brock & Blackwell LLP’s Toronto office, while the lenders hired Fasken Martineau and PPU.

The company focuses on zinc mining. Its Santander mine, which is Trevali’s main holding in Peru, is some 200 kilometres northeast of the capital Lima.

Counsel to Trevali Mining Corporation

McCarthy Tetrault LLP

Partner Christopher Langdon and associates Heba Al-Shakarchi and Taha Qureshi in Toronto

Estudio Echecopar member firm of Baker McKenzie International

Partners Rafael Picasso, Valentin Paniagua and Ina Maria Drago, and associates Andrea Cáceres, Katherine Zapata and Cynthia de la Flor in Lima

Counsel to Bank of Nova Scotia, HSBC, Societé Generale, Bank of Montreal, National Bank of Canada, ING Capital and the Toronto Dominion Bank

Philippi Prietocarrizosa Ferrero DU & Uría (Peru)

Partners Rafael Puiggros and Hernan Torres, and associates Luciana Carpio Rivero, Fabio Ruesta, and Sergio Cueva in Lima

Source: Latin Lawyer

Link to publication