Champion Iron inks $230 mln debt deal with Caisse, Sprott

Champion Iron Ltd (TSX: CIA) has secured about $230 million (US$180 million) in conditional debt financing commitments from Caisse de dépôt et placement du Québec and Sprott Resource Lending Corp. Of this amount, US$100 million will be provided by the Caisse in the form of a subordinated loan. Shareholders will vote on the deal in August. Champion intends to use the funds raised to resume operations at its Bloom Lake iron ore mine in Québec. It acquired the mine and related assets last year with the help of $30 million in financing from Wynnchurch Capital, Resource Capital Funds and other investors.

DealsCanadaNorth AmericaBriefs