Elemental Royalty Corporation (NASDAQ: ELE) has announced the signing of an amendment to the Company’s existing Revolving Credit Facility, which has now been upsized to US$150 million with a US$50 million Accordion feature. National Bank Capital Markets and Canadian Imperial Bank of Commerce acted as Co-Lead Arrangers on the transaction, with National Bank Capital Markets also acting as Sole Bookrunner. National Bank of Canada acted as Administrative Agent. Each of NBC, CIBC and The Bank of Nova Scotia acted as Lenders.
Highlights
- US$150 million Revolving Credit Facility with NBC, CIBC, and Scotia
- US$50 million Accordion feature available, subject to certain conditions
- Expanded Credit Facility solidifies Elemental’s strong foundation from which to transact on further accretive royalties and stream opportunities
- The Facility matures on February 27, 2029
Stefan Wenger, Chief Financial Officer of Elemental Royalty, commented: “Upsizing our credit facility represents a strong vote of confidence from our banking partners at NBC, CIBC, and Scotia, and reflects the momentum of our business following a transformational year in 2025, which included our merger and our listing on Nasdaq. This expanded capacity enhances Elemental’s strong cash position and financial flexibility and provides additional headroom to support more material future transactions. We’re pleased to have secured the facility on attractive terms, reinforcing our disciplined approach to capital management and our focus on long-term stakeholder value.”
Terms of the Transaction
The Company has entered into an agreement with NBC, CIBC, and Scotia for a US$150 million Facility, with an option to increase to a total of US$200 million through an Accordion facility of US$50 million, subject to the satisfaction of certain conditions. This is an amendment to the currently undrawn facility of US$50 million.
The Facility has a term of three years, extendable through mutual agreement between Elemental and the Lenders. Depending on the Company’s leverage ratio, the amounts drawn on the Facility are subject to interest at SOFR plus 2.25%-3.5% per annum and the undrawn portion is subject to a standby fee of 0.50%-0.78% per annum.
The Facility has been entered into by Elemental as borrower, NBC as Administrative Agent, National Bank Capital Markets as Sole Bookrunner and Co-Lead Arranger, CIBC as Co-Lead Arranger and Syndication Agen
