Client Work Detail

In June 2008, Uranium One Inc. entered into a US$100,000,000 senior secured revolving credit facility for general corporate purposes, including working capital requirements and funding capital expenditures and acquisitions.

Under the terms of the facility, Uranium One has the ability to borrow up to US$100,000,000 from the lead lenders, Bank of Montreal and The Bank of Nova Scotia.  The facility has a two year term, and may be extended for a further year with lender consent.  The facility was arranged by BMO Capital Markets and Scotia Capital as joint lead arrangers.  Endeavour Financial acted as financial adviser to Uranium One.

Uranium One is a Vancouver-based uranium producer with assets located in each of the world's five largest uranium resource jurisdictions - Australia, Canada, Kazakhstan, South Africa and the United States.  Uranium One owns 70% of the operating Akdala Uranium Mine in Kazakhstan and is also developing the South Inkai and Kharasan Uranium Projects in Kazakhstan.  Uranium One owns the Dominion Uranium Project in South Africa, as well as the Honeymoon Uranium Project in South Australia.  In the United States, Uranium One has extensive property holdings in Wyoming, Texas, Utah and New Mexico, including the Shootaring Canyon Mill in Utah and the Hobson ISR facility in Texas.

The joint lead arrangers and lenders were represented in Canada by Ogilvy Renault LLP with a team that included Merie-Anne Beavis, Nicholas C. Williams, Aditya Rebbapragada, Jennifer Bensky and Andrew Welsh.