Lundin Mining increases credit facility to $800 million

(Reuters) - Diversified Canadian miner Lundin Mining LUN.TO said on Wednesday it amended a credit agreement that increases its secured revolving credit facility by $250 million to $800 million.

The Toronto-based company, with an option to raise the credit facility by another $200 million, said it had also extended the agreement term to August 2023, from October 2022.

Lundin, which has a market value of C$4.40 billion ($3.31 billion), said the “low-cost facility” and cash flow from operations would help it to maintain significant financial liquidity and flexibility.

Bank of Nova Scotia BNS.TO and ING Capital LLC acted as joint lead arrangers and bookrunners.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel