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The Bank of Nova Scotia, Others Upsize Revolving Credit Facility for Nomad Royalty

August 30, 2021, 07:45 AM
Filed Under: Specialty Industries

Nomad Royalty Company secured commitments with The Bank of Nova Scotia ("Scotia"), Canadian Imperial Bank of Commerce ("CIBC") and The Royal Bank of Canada ("RBC") to increase its revolving credit facility to US$125 million with the option to increase to $150 million, subject to satisfaction of certain conditions.

Elif Lévesque, Chief Financial Officer of Nomad, commented, "Scotia, CIBC and RBC continue to be strong financial partners to Nomad. The completion of the Increased Facility will provide us with additional financial flexibility as we grow our business through accretive opportunities."

The increased facility will continue to be secured by all of the Company's assets and will have a 4-year term, extendable through mutual agreement between Nomad, Scotia, CIBC, and RBC. Closing of the Increased Facility is expected in the third quarter of 2021 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 Increased Facility for future royalty and stream acquisitions. 

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