North American Palladium Ltd.  announced that it has entered into a new $125 million revolving term credit facility) in replacement of the Company's existing credit facilities. The Credit Facility is to be used for general corporate purposes.  The Credit Facility has a term of 5 years to maturity.

The Credit Facility replaces the Company's previous term and revolving credit facilities (both of which would have matured on December 31, 2018), and a portion of the proceeds of the initial drawdown under the Credit Facility was used to repay in full the outstanding senior secured term loan of US$35 million with an affiliate of Brookfield Business Partners LP and the outstanding revolving credit facility with a Canadian chartered bank lender.

BMO Capital Markets and BNP Paribas acted as Co-Lead Arrangers and Joint Bookrunners on the Credit Facility, and Bank of Montreal acted as Administrative Agent.