PE-backed First Nickel completes debt refinancing transaction
Canadian mining company First Nickel Inc has closed a deal to refinance its debt obligations. The refinancing includes the issue of shares to U.S. private equity firm Resource Capital Funds (RCF) to satisfy obligations under a US$10 million convertible loan facility, as well as an increase in the principal amount of a term loan with RCF to US$15.5 million. The deal also increases the principal amount of a term loan with Canadian private investment firm West Face Capital to US$12.5 million. Based in Toronto, First Nickel owns and operates the Lockerby Mine in the Sudbury Basin of northern Ontario. RCF is currently the company's largest shareholder.
16 March 2015•2 mins read
