Mine developer Canada Lithium announced that The Bank of Nova Scotia and Caterpillar Financial have given credit-approved commitments to provide a C$75 million, five-year debt facility to finance Canada Lithium?s Qu?bec lithium open pit mine and process plant near Val d?Or, Qu?bec. The debt facility will be supported by a financial guarantee from Investissement Qu?bec.
In addition to the debt facility, the company said Cat Financial will provide up to US$17 million of lease financing for the main components of the mining equipment fleet.
The C$75 million debt financing, C$60 million of which has been underwritten by Scotiabank as mandated lead arranger, with the remaining C$15-million to be provided by Cat Financial, will be supported by a partial financial guarantee from Investissement Qu?bec, a Qu?bec government agency established to foster economic development.
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Source: http://www.monitordaily.com/20338/
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