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RBC, Others Commit up to $75MM in New Financing to Nomad Royalty Company

July 15, 2020, 08:50 AM
Filed Under: Industry News

Nomad Royalty Company Ltd. announced that it has entered into an agreement with The Bank of Nova Scotia, Canadian Imperial Bank of Commerce (CIBC) and The Royal Bank of Canada  (RBC) for a $US50 million revolving credit facility with the option to increase to US$75 million, subject to satisfaction of certain conditions.

Elif Lévesque, Chief Financial Officer of Nomad, commented, "In these unprecedented times, we are excited to be able to count on Scotia, CIBC and RBC as strong financial partners to Nomad. The completion of the Facility will provide us with additional financial flexibility as we pursue the growth of our business and represents another important milestone in the evolution of our company. "

The Facility will be secured by all of the Company's assets and will have an 18-month term, extendable through mutual agreement between Nomad, Scotia, CIBC, and RBC. Closing of the Facility is expected in the third quarter of 2020 and is subject to completion of definitive documentation and satisfaction of conditions precedent customary for a financing of this nature. Nomad intends to use the Facility for future royalty and stream acquisitions.

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