Sierra Metals Announces Completion of Refinancing Agreement With Major Lenders
Sierra Metals Inc. (TSX: SMT) (“Sierra Metals” or the “Company”) announces that, in connection with the press release dated March 13th 2023, it has finalized the definitive agreement (the “Agreement”) with Banco de Credito del Peru and Banco Santander S.A. (together, the “Lenders”) to refinance $18.75 million out of the $25.00 million principal debt repayment obligations that were originally due in 2023 under the Company’s senior secured credit facility.
- Sierra Metals Inc. (TSX: SMT) (“Sierra Metals” or the “Company”) announces that, in connection with the press release dated March 13th 2023, it has finalized the definitive agreement (the “Agreement”) with Banco de Credito del Peru and Banco Santander S.A. (together, the “Lenders”) to refinance $18.75 million out of the $25.00 million principal debt repayment obligations that were originally due in 2023 under the Company’s senior secured credit facility.
- All figures in this news release are stated in U.S. dollars.
- Interest will be accrued at an annualized rate of 6.3% plus the three-month Secured Overnight Financing Rate.
- “This refinancing is an important step in the Company’s return to sustainable, long-term growth,” said Ernesto Balarezo, Interim Chief Executive Officer, Sierra Metals.