UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________________
FORM
6-K
_____________________
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT of 1934
April
15, 2015
_____________________
Pan
American Silver Corp.
(Exact
name of registrant as specified in its charter)
1500-625
HOWE STREET
VANCOUVER
BC CANADA V6C 2T6
(Address
of principal executive offices)
000-13727
(Commission
File Number)
_____________________
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). _____
|
Note: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. |
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
|
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrant’s “home country”), or under the rules of the home country exchange
on which the registrant’s securities are traded, as long as the report or other document is not a press release, is
not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. |
Indicate
by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If "Yes"
is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): ______
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
|
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Pan American Silver
Corp. |
|
(Registrant) |
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Date: April 15, 2015 |
By: |
/s/ ROBERT
PIROOZ |
|
Robert
Pirooz |
|
General Counsel |
EXHIBIT
LIST
Exhibit |
|
Description |
|
|
|
99.1 |
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News Release dated April 15, 2015 - Pan American Silver Announces New US$300 Million Revolving Credit Facility |
Exhibit 99.1
Pan American Silver Announces New US$300 Million Revolving Credit
Facility
VANCOUVER, April 15, 2015 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS; TSX: PAA) (the "Company") today announced that it has entered into a new senior secured revolving
credit facility (the "Facility") with a syndicate of eight lenders.
The Facility is a US$300 million secured revolving line of
credit that matures on April 15, 2019. The Facility is intended for general corporate purposes which could include capital expenditures,
investments or potential acquisitions, when and if any such acquisitions are identified. The Bank of Nova Scotia and Canadian Imperial
Bank of Commerce are Joint Lead Arrangers and Joint Bookrunners on the Facility and Administrative Agent and Syndication Agent,
respectively, and HSBC Bank Canada is the Documentation Agent. The remaining syndicate members are Royal Bank of Canada, The Toronto-Dominion
Bank, Société Générale, Bank of Montreal and Credit Suisse, AG. The terms of the Facility provide the
Company with the flexibility of various borrowing and letter of credit options. With respect to loans drawn based on the average
annual rate of interest at which major banks in the London interbank market are offering deposits in US Dollars ("LIBOR"),
the interest margin on such loan is between 2.125% and 3.125% over LIBOR, depending on the Company's leverage ratio at the time
of a specified reporting period.
Commenting on the Facility, Rob Doyle, Chief Financial Officer,
said, "I am very pleased with the positive response that we have received from such a strong banking syndicate. The ability
to borrow US$300 million adds further to our already healthy liquidity position and bolsters our financial strength and flexibility,
which will allow us to quickly respond to our future funding needs, whether it be for organic growth projects or for future business
development opportunities that may arise."
ABOUT PAN AMERICAN SILVER
Pan American Silver's mission is to be the world's pre-eminent
silver producer, with a reputation for excellence in discovery, engineering, innovation and sustainable development. The Company
has seven operating mines in Mexico, Peru, Argentina and Bolivia. Pan American also owns several development projects in the USA,
Mexico, Peru and Argentina.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
THIS NEWS 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. ALL STATEMENTS, OTHER THAN STATEMENTS OF HISTORICAL FACT,
ARE FORWARD-LOOKING STATEMENTS. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS NEWS RELEASE,
THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS, EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS. SUCH FORWARD-LOOKING
STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT LIMITED TO STATEMENTS AS TO ANY POTENTIAL FUTURE USES OF PROCEEDS, INCLUDING WHETHER
OR IF ANY FUTURE CAPITAL EXPENDITURES, INVESTMENTS, POTENTIAL ACQUISITIONS, GROWTH PROJECTS OR BUSINESS DEVELOPMENT OPPORTUNITIES
MAY ARISE.
THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH
RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE
BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES.
MANY FACTORS, BOTH KNOWN AND UNKNOWN, COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS CONTAINED IN THIS
NEWS RELEASE AND THE COMPANY HAS MADE ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE FACTORS, INCLUDING THOSE FACTORS
IDENTIFIED UNDER THE CAPTION "RISKS RELATED TO PAN AMERICAN'S BUSINESS" IN THE COMPANY'S MOST RECENT FORM 40F AND ANNUAL
INFORMATION FORM FILED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION AND CANADIAN PROVINCIAL SECURITIES REGULATORY
AUTHORITIES. INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY
BE OTHER FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED, DESCRIBED OR INTENDED. THE COMPANY DOES NOT INTEND,
AND DOES NOT ASSUME ANY OBLIGATION, TO UPDATE THESE FORWARD LOOKING STATEMENTS OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS
OR CHANGES IN CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE
LAW.
SOURCE Pan American Silver Corp.
%CIK: 0000771992
For further information: INFORMATION CONTACT: Kettina Cordero,
Manager, Investor Relations, (604) 684-1175, ir@panamericansilver.com
CO: Pan American Silver Corp.
CNW 19:30e 15-APR-15
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