Wheaton Precious Metals signs $2 billion sustainability-linked revolving credit facility

Wheaton Precious Metals™ Corp. has added a sustainability-linked element in connection with the extension to its existing undrawn US$2 billion revolving credit facility underscoring Wheaton's commitment to sustainability initiatives.

"At Wheaton, sustainability is integral to every aspect of our business, strategy and overall success,"

said Randy Smallwood, Wheaton's President and Chief Executive Officer.

"Integrating key performance indicators that are based on our ambitious sustainability goals into the renewal of our credit facility demonstrates that we are committed and accountable to creating value for all of our stakeholders, including our shareholders, mining partners and our neighbours. It is the right thing to do, and we hope to see more of our peers in the streaming and mining industry do the same."

The renewed revolving credit facility is aligned with Wheaton's sustainability strategy, which includes a commitment to net zero carbon emissions by 2050. More information on Wheaton's sustainability targets are included in the company's annual Sustainability Report.

Under the renewed revolving credit facility, the interest rate paid on drawn amounts and standby fees will be adjusted based upon Wheaton's performance in three sustainability-related areas:

Wheaton's attributable emissions from third-party mining partners operations covered by science-based emissions targets, Diversity at the Wheaton group's board and management levels, Wheaton's S&P ESG score

Wheaton has also extended the maturity date of the renewed revolving credit facility by one year to July 18, 2027. The Company currently has no amounts drawn under the revolving credit facility.

The Bank of Nova Scotia and Bank of Montreal acted as Joint Bookrunners and Co-Lead Arrangers of the revolving credit facility. Bank of Montreal and Royal Bank of Canada acted as Co-Lead Sustainability Structuring Agents and Coordinators, and The Bank of Nova Scotia and Canadian Imperial Bank of Commerce acted as Co-Sustainability Agents. Bank of America, The Toronto-Dominion Bank and Export Development Canada acted as lenders.

Source: Wheatonpm news