REG - Wheaton Precious Met - US$2Bn Sustainability-Linked Credit Facility

Wheaton Precious MetalsAnnouncement

19/07/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220719:nRSS9447Sa&default-theme=true

RNS Number : 9447S  Wheaton Precious Metals Corp.  19 July 2022

WHEATON PRECIOUS METALS SIGNS US$2 BILLION SUSTAINABILITY-LINKED REVOLVING
CREDIT FACILITY

VANCOUVER, BC, July 19, 2022 - Wheaton Precious Metals™ Corp. ("Wheaton" or
the "Company") 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.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS

This press release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
securities legislation concerning the business, operations and financial
performance of Wheaton and, in some instances, the business, mining operations
and performance of Wheaton's precious metals purchase agreement ("PMPA")
counterparties. Forward-looking statements, which are all statements other
than statements of historical fact, include, but are not limited to Wheaton's
climate change and environmental commitments, Wheaton's sustainability-linked
commitments and targets and the interest rates and fees payable under the
revolving credit facility. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "projects", "intends", "anticipates" or "does not
anticipate", or "believes", "potential", or variations of such words and
phrases or statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of Wheaton to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to risks
associated with the ability to achieve climate change and environmental
commitments at Wheaton and at the Mining Operations, risks associated with the
ability to achieve sustainability linked commitments and targets and the risks
associated with interest rate adjustments and fees under the revolving credit
facility and other risks discussed in the section entitled "Description of the
Business - Risk Factors" in Wheaton's Annual Information Form available on
SEDAR at www.sedar.com, and in Wheaton's Form 40-F for the year ended December
31, 2021 and Form 6-K filed March 10, 2022 both available on EDGAR at
www.sec.gov, as well as the risks set out in Wheaton's management's
discussions and analysis for the period ended December 31, 2021 available on
SEDAR and EDGAR (together, the "Disclosure"). Forward-looking statements are
based on assumptions management currently believes to be reasonable, including
(without limitation): that Wheaton will be able to achieve climate change and
environmental commitments and that Wheaton will be able to achieve its
sustainability-linked commitments and targets and such other assumptions and
factors as set out in the Disclosure. There can be no assurance that
forward-looking statements will prove to be accurate and even if events or
results described in the forward-looking statements are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on, Wheaton. Readers should not place
undue reliance on forward-looking statements and are cautioned that actual
outcomes may vary. The forward-looking statements included herein are for the
purpose of providing readers with information to assist them in understanding
Wheaton's expected financial and operational performance and may not be
appropriate for other purposes. Any forward-looking statement speaks only as
of the date on which it is made, reflects Wheaton's management's current
beliefs based on current information and will not be updated except in
accordance with applicable securities laws. Although Wheaton has attempted to
identify important factors that could cause actual results, level of activity,
performance or achievements to differ materially from those contained in
forward‑looking statements, there may be other factors that cause results,
level of activity, performance or achievements not to be as anticipated,
estimated or intended.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEKLBFLDLEBBD