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VANCOUVER, BC, July 18,
2022 /PRNewswire/ - 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.
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SOURCE Wheaton Precious Metals Corp.