Morimor counsels on $200m mining refinancing
Morgan & Morgan Legal has counselled Orla Mining (Orla), as obligor, and Minera Cerro Quema (MCQ), as guarantor, in connection with the refinancing of an existing secured credit facility, increasing the facility from US $150 million to US $200 million and extending its term.
The refinancing includes a term loan facility and a revolving credit facility through a syndicate of lenders comprising The Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce.
The proceeds of the refinancing were used to repay the existing credit facility of the project financing, with the balance of the revolving credit facility available for general corporate purposes and working capital.
Morimor’s team was represented by partner Roberto Vidal (pictured).
