MAC is focused on acquiring and managing high-quality metals and mining businesses in stable jurisdictions. The company operates the CSA copper mine in Australia.
Under the new structure, the senior facilities include a US$159 million term loan facility, an increased US$125 million revolving credit facility and a $45 million environmental bond. The new structure involves a syndicate of six banks, including three new Australian banks, which has reduced the cost of the environmental bond by an impressive 93%.
The proceeds from MAC’s $150 million equity raising in October 2024 have been used for an early repayment of the Sprott mezzanine facility, which now streamlines the company's debt.
Post implementation of the new facilities, MAC’s pro-forma cash and cash equivalents are $80 million and its liquidity is $172 million.
Partner Dom McGreal led the work for G+T and was assisted by lawyer Natasha Ting.
Dom said:
We are pleased to have supported MAC on this major refinancing and simplification process. This new, more flexible structure not only optimises and strengthens MAC’s financial position but sets the stage for continued success and stability in their operations.
