Agnico-Eagle Mines Limited established a US$125 million credit facility with a syndicate of six banks and financial institutions. The Bank of Nova Scotia is administrative agent for the syndicate. The credit facility was used partly to refinance Agnico-Eagle Mines’ previous credit facility of US$100 million and will be used to finance the company’s ongoing business. The deal closed on November 23, 2001.
Agnico-Eagle Mines was represented by Davies Ward Phillips & Vineberg LLP in Toronto, with a team including Patricia Olasker, Andrew Welsh and Erinn Somerville, and by Fraser Milner Casgrain LLP in Montreal, with a team including Pierre Langlois and Louise Houle.
The Bank of Nova Scotia, as administrative agent for the lenders, was represented by Borden Ladner Gervais LLP’s Howard Silverman, Frank Callaghan and Bindu Pendala in Toronto and Betsy Mitchell and Vivian Cyriacopoulos in Montreal.