Pretium Resources closes $540 mln in construction financing

Vancouver-based Pretium Resources Inc (TSX, NYSE: PVG) has completed its previously-announced US$540 million construction financing package. The package, which includes a US$350 million credit facility, a US$150 million prepayment under a stream agreement, and a US$40 million private placement, was provided by Orion Mine Finance Group and Blackstone Tactical Opportunities, an investment affiliate of Blackstone Group. The proceeds of the deal will help fund the development of an underground mine at the company's Brucejack Project in northern British Columbia. The project's commercial production is targeted for 2017.

DealsCanadaNorth AmericaBriefs