Amerigo Completes Refinance of MVC Debt Facility
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September 30, 2019
N.R. 2019-13
Amerigo Completes Refinance of MVC Debt Facility
Vancouver, British Columbia – September 30, 2019/CNW/ - Amerigo Resources Ltd. ("Amerigo" or the
"Company") (TSX: ARG). is pleased to announce that its wholly o wned Chilean subsidiary, Minera Valle
Central (“MVC”) has completed a refinance of its debt facilities, as initially announced in the Company’s news
release of August 6, 2019.
MVC obtained debt facilities of US$99.7 million in 2015 and 201 7 to finance the Cauquenes expansion, with
an original term to December 31, 2021. At the time of refinance , the facilities had an outstanding principal of
US$56.25 million.
Under the refinance provisions, the principal outstanding was s tructured as a four-year senior secured term
loan facility (the “New Facility”) of US$56.25 million, provide d jointly by MVC’s existing lenders Scotiabank
Chile and Export Development Canada.
The New Facility has a maximum repayment term of 4 years to Sep tember 26, 2023 that may be shortened
without penalty in accordance with the provisions of the agreement in respect of the New Facility. Seven semi-
annual installments of 8.33% of the New Facility (US$4,685,625) are to be made starting on March 26, 2020,
together with accrued interest. A final installment of 41.69% of the New Facility (US$23,450,625) plus accrued
interest is to be made on September 26, 2023. Any prepayments made during the term of the New Facility will
reduce the amount due on the final installment.
Rob Henderson, Amerigo's President and CEO, stated “This refina nce of debt facilities provides MVC with
additional flexibility and substantially reduces liquidity expo sure for the Company. I would like to take this
opportunity to thank Scotiabank Chile and Export Development Ca nada for their ongoing strategic support to
MVC and its operations.”
About Amerigo and MVC
Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación
Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer.
Amerigo produces copper concentrate at the MVC operation in Chi le by processing fresh and historic tailings
from Codelco’s El Teniente mine, the world's largest undergroun d copper mine. Tel: (604) 681-2802; Fax:
(604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.
For further information, please contact:
Rob Henderson, President and CEO (604) 697-6203
Aurora Davidson, Executive Vice-President and CFO (604) 697- 6207