Wheaton Precious Metals adds sustainability element to $2 billion loan
Canadian streaming group Wheaton Precious Metals has added a sustainability element as part of the extension of its existing unused $2 billion revolving credit facility.
“At Wheaton, sustainability is integral to all aspects of our business, our strategy and our overall success,” said the President and CEO. Excited Little wood.
“Incorporating key performance indicators based on our ambitious sustainability goals into the renewal of our credit facility demonstrates that we are committed and accountable to creating value for all of our stakeholders, including our shareholders, our mining partners and our neighbors. It’s the right thing to do, and we hope to see more of our peers in the streaming and mining industry do the same.”
The renewed revolving credit facility is aligned with Wheaton’s sustainability strategy, which includes a commitment to net zero carbon emissions by 2050.
Under the renewed revolving credit facility, the interest rate paid on amounts drawn and standby fees will be adjusted based on Wheaton’s performance in three sustainability-related areas: emissions attributable to operations of third-party mining partners covered by science-based emissions targets; diversity at the board and management levels of the Wheaton Group; and Wheaton’s S&P Environmental, Social and Governance Score.
Wheaton has also extended the maturity date of the Renewed Revolving Credit Facility by one year to July 18, 2027. The Company currently has no amounts drawn under the Revolving Credit Facility.
The Bank of Nova Scotia and Bank of Montreal acted as co-bookrunners and co-lead managers of the revolving credit facility. Bank of Montreal and Royal Bank of Canada acted as co-leads in structuring and coordinating sustainability, and Bank of Nova Scotia and Canadian Imperial Bank of Commerce acted as co-leads. -sustainability agents. Bank of America, Toronto-Dominion Bank and Export Development Canada acted as lenders.