Generation Mining secures $424-million debt facility to build Marathon mine
The project now has $769 million in approved funding as Gen Mining nears a construction decision for its shovel-ready copper and palladium mine.
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Generation Mining Secures CAD $200 Million Subordinated Debt Commitment from Canada Infrastructure Bank
TORONTO -- Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (the "Company") is pleased to announce the Canada Infrastructure Bank ("CIB") has received internal credit approval for a subordinated debt facility of CAD $200 million (“CIB Facility”) to support the construction and development of the Marathon Copper-Palladium Project ("Marathon Project").
Generation Mining Lands $200 Million From Canada Infrastructure Bank Days After Senior Debt Approval
Generation Mining (TSX: GENM) has added a further $200 million to the funding pile behind its Marathon copper-palladium project, with the Canada Infrastructure Bank granting internal credit approval for a subordinated debt facility. The commitment lands just days after the company won credit approval for a US$310 million senior secured facility, worth roughly $424 million, from Export Development Canada, ING Capital and Société Générale. The CIB…
Generation Mining locks in US$310M in debt funding for the Marathon copper-palladium project
Generation Mining (GENM.TO) continues to make progress on the financing mix for its Marathon project. The lenders have now approved a US$310M (C$424M) senior secured project finance facility to fund the development of the project. Despite the weak palladium price, lenders are still willing to take on the financing risk, which further emphasizes the robust economics of the project. Adding the C$200M streaming agreement with Wheaton Precious Metal…
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