Versamet Royalties ups credit facility to $225M (U.S.)

Executive Summary

• Versamet Royalties Corp. has amended and upsized its existing revolving credit facility with lenders Bank of Montreal and National Bank Capital Markets, increasing the total borrowing capacity to $225 million.
• The transaction involves retiring the previous $80 million term loan and replacing the prior $100 million revolving facility with a new $200 million secured revolving credit line, plus an accordion feature for an additional $25 million.
• The new facility matures in March 2029, with pricing margins ranging from 2.25% to 3.50% over SOFR, and $45 million was drawn on the facility as of March 4, 2026.

Key Details

• Facility Size: Total borrowing capacity of $225 million, consisting of a $200 million secured revolving credit line and an accordion feature allowing for an additional $25 million.
• Lenders: Bank of Montreal and National Bank Capital Markets.
• Pricing: Margins range from 2.25% to 3.50% over adjusted secured overnight financing rate (SOFR), based on a sliding scale dependent on the company's leverage ratio.
• Maturity: March 2029.
• Previous Debt: The company retired its previous $100 million revolving credit facility and $80 million term loan, which has been fully repaid.
• Current Draw: As of March 4, 2026, there is $45 million drawn on the facility.
• Purpose: To enhance financial flexibility and pursue accretive growth opportunities.

Notable Quotes

• "The increase to our facility demonstrates the continued support of our lending partners, who have played an important role in our growth to date. The extension and upsizing of the facility further enhances our financial flexibility and reflect our lenders' confidence in the strength and quality of our portfolio. Combined with our strong balance sheet and robust cash flow generation, the facility positions us well to pursue accretive growth opportunities and deliver long-term value for shareholders." — Victoria McMillan, Chief Financial Officer