Noranda Income Fund Extends Maturity of Asset Backed Revolving Credit Facility
SALABERRY-DE-VALLEYFIELD, Québec, April 12, 2018 (GLOBE NEWSWIRE) — Noranda Income Fund (TSX:NIF.UN) (the “Fund”) today announced that the lenders exercised their subsequent maturity extension on the Fund’s asset-backed revolving credit facility (“ABL Facility”) resulting in the maturity being extended from April 13, 2018 to July 20, 2020. The terms of the US$150 million ABL Facility remain the same. A summary of the terms can be found in the fourth quarter and fiscal year 2017 Management’s Discussion and Analysis posted on http://www.sedar.com.
In addition, the Fund would like to remind its Unitholders that its Annual General Meeting (“AGM”) is being held on April 27, 2018 at the Hôtel Plaza Valleyfield, 40 Avenue du Centenaire in Salaberry-de-Valleyfield, Québec, at 11 a.m. EDT. Following the AGM, a plant tour will be held for interested unitholders and analysts. There are limited spaces available and advance registration is required. To register, please contact Valerie Bourdon at [email protected].
Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol “NIF.UN”. Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the “Processing Facility”) located in Salaberry de-Valleyfield, Québec. The Processing Facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation.
Further information about Noranda Income Fund can be found at
For further information, please contact:
Michael Boone, Vice President & Chief Financial Officer of Canadian Electrolytic Zinc Limited, Noranda Income Fund’s Manager