Brookfield-backed NAP raises additional $25 mln in debt funding
North American Palladium Ltd (NAP) (TSX: PDL), a Canadian precious metals producer, has secured US$25 million from its majority owner, Brookfield Asset Management. The Toronto-based company also extended its US$60 million revolving operating line of credit by two additional years. The money from both sources will be used to fund working capital and capital expenditures for NAP's Lac des Iles palladium mine in Ontario. In August, Brookfield's private equity group completed the recapitalization of NAP, a deal that provided Brookfield with 92 percent of the company's outstanding common shares.
21 December 2015•4 mins read
