Borenius advised Endomines on a long-term secured financing arrangement

We advised Endomines Finland Plc (“Endomines”) on its up to EUR 12 million secured financing arrangement with LocalTapiola, a Finnish pension insurance company and Pohjois-Karjalan Osuuspankki as lenders.

The financing arrangement includes an up to EUR 8 million term loan, with the principal amount due in December 2028, an account limit of up to EUR 3 million and bank guarantee and financing limits totalling a maximum of EUR 1 million.

This financing complements Endomines’ previous financing arrangements made through convertible bonds with its largest shareholders.

Endomines is a Finnish mining and exploration company with mining operations in Pampalo, in the Ilomantsi region as well as in the Karelian Gold Line, in Eastern Finland. Endomines also owns the rights to seven gold deposits in the US. Endomines’ shares are listed on the main list of Nasdaq Helsinki.