Mayfair Gold signed an engagement letter and a non-binding term sheet with Macquarie Bank for a proposed $300M project financing facility, with a $25M early drawdown tranche at closing.
The facility comes at CORRA + 4.75% per annum, lowering to CORRA + 4.25% after project completion.
Also announced was a $10M equity investment by Macquarie at $4.26/share (10% premium to the 5-day VWAP).
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MFG: Secures Two-Thirds of Project Capex in $310M Engagement