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Lundin Mining Amends Credit Deal To Increase Facility To US$300 Mln - Quick Facts

(RTTNews) - Lundin Mining Corp. (LUN.TO) said on Thursday that it has executed an amended and restated credit agreement that increases the amount of its revolving credit facility to US$300 million from $225 million, reduces its costs of borrowing and extends the term of the Facility to September 2013 from May 2012.

The amendments to the Facility were fully supported by the syndicate of lenders all of whom increased their individual commitment levels.

The syndicate of lenders, which comprises Scotia Capital, the Sole Lead Arranger and Sole Book Runner, Bank of Montreal, WestLB AG- New York Branch, ING Bank N.V., Export Development Canada and Skandinaviska Enskilda Banken AB, collectively approved commitments to the company well in excess of the $300 million requested.

Except for a letter of credit in the amount of 80 million Swedish Kronor or about US$11million, no advances are currently outstanding under the Facility and Lundin Mining has around US$150 million of cash on hand.