Torex Successfully Completes US$400 Million Facility To Refinance Project Debt

https://www.torexgold.com/news/torex-successfully-completes-uscad400-million-facility-to-refinance-project-debt

TORONTO, Ontario, July 26, 2017 — Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that the Company’s wholly-owned subsidiary Minera Media Luna, S.A. de C.V. (“MML”) has signed an amended and restated credit agreement with BNP Paribas, Commonwealth Bank of Australia, ING Capital LLC and SG Americas Securities, LLC, as joint bookrunners and joint lead arrangers (the “Banks”) in connection with the previously announced secured US$400 million debt facility (the “Loan Facility”). Following a successful syndication, BMO Harris Bank N.A. and The Bank of Nova Scotia joined the Banks as lenders under the Loan Facility. The Loan Facility is comprised of a US$300 million term loan (the “Term Facility”) and a US$100 million revolving loan facility (the “Revolving Facility”). All conditions precedent for the drawdown of the Loan Facility have been satisfied and the Company has drawn the full amount of the Term Facility and US$75 million of the Revolving Facility to repay the project finance facility (the “Project Finance Facility”) that was previously entered into with the Banks, for the construction of the El Limon-Guajes Mine (“ELG”) located in southwest Mexico. The Company may use the Revolving Facility for MML’s general corporate purposes, including development expenditures, subject to the conditions of the Loan Facility.

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