Boart Longyear Group Ltd. announced that it has agreed amendments to its term loan credit facility and its asset-based lending facility (ABL facility) in connection with the acquisition by the Company's wholly owned subsidiary, Veracio Ltd. (Veracio), of Minalyze AB (Minalyze) which was announced by the Company (Minalyze Acquisition). On [15 September (NY time)], the Company and certain of its subsidiaries entered into amendments to its existing USD 115 million term loan credit facility with HPS Investment Partners, LLC and other financial institutions in connection with the Minalyze Acquisition. This includes that the lenders have agreed to make available an additional USD 15 million term loan which can be used to fund the cash consideration component of the Minalyze Acquisition and for working capital purposes and to pay fees and expenses related to the Minalyze Acquisition.

The amendments also include that if the convertible promissory notes which are issued by Veracio to the vendors of Minalyze as part of the consideration under the Minalyze Acquisition (Minalyze Notes) have not been converted or repaid in full by 31 December 2024, the final maturity date of the term loan credit facility will be an earlier date of 31 December 2024. Otherwise, the final maturity date of the term loan credit facility will remain 8 September 2026. On the same date the Company and certain of its subsidiaries also entered into amendments to its existing USD 90 million ABL facility with PNC Bank, National Association in connection with the Minalyze Acquisition.

The amendments include that if the Minalyze Notes have not been converted or repaid in full by 31 December 2024, the final maturity date of the ABL facility will be an earlier date of 31 December 2024. Otherwise, the final maturity date of the ABL facility will remain 12 May 2025. The Company intends that the Minalzye Notes will be either converted or repaid in full prior to 31 December 2024 so that the earlier final maturity dates for the term loan credit facility and ABL facility will not apply.