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HECLA MINING CO/DE/ FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Regulation FD Disclosure, Financial Statements and Exhibits

February 18, 2014



Item 1.01. Entry into a Material Definitive Agreement.

On February 14, 2014 we entered into a Third Amended and Restated Credit Agreement with The Bank of Nova Scotia and ING Capital LLC (the "Lenders") to replace our prior credit agreement. The credit agreement is a $100 million senior secured revolving facility with a three year term. The interest rate on outstanding loans under the credit agreement is between 2.25% and 3.25% above the LIBOR or between 1.25% and 2.25% above an alternative base rate. We are required to pay a standby fee of 0.50% per annum on undrawn amounts under the credit agreement. The revolving credit facility under the credit agreement is available to us for general corporate purposes. Currently we have not made any borrowings under the credit agreement.

We and certain of our subsidiaries are the borrowers under the credit agreement, while certain of our other subsidiaries are guarantors of the borrowers' obligations under the credit agreement. As further security, the credit facility is collateralized by the equity interests of our subsidiaries that own the Greens Creek mine or are part of the Greens Creek Joint Venture and our subsidiary Hecla Admiralty Company (the "Greens Creek Group"), and by our joint venture interests in the Greens Creek Joint Venture, all of our rights and interests in the joint venture agreement, and all of our rights and interests in the assets of the joint venture and the Greens Creek Group.

The credit agreement contains representations and warranties we made. The assertions embodied in those representations and warranties are qualified by information in confidential disclosure schedules that we have exchanged in connection with signing the credit agreement. While we do not believe that they contain information securities laws require us to publicly disclose other than information that has already been so disclosed, the disclosure schedules do contain information that modifies, qualifies and creates exceptions to the representations and warranties set forth in the credit agreement. Accordingly you should not rely on the representations and warranties as characterizations of the actual state of facts, since they are modified in important part by the underlying disclosure schedules. The credit agreement has been incorporated by reference herein to provide you with information regarding its terms. It is not intended to provide any other factual information about us. Such information about us can be found elsewhere in other public filings we have made with the Securities and Exchange Commission, which are available without charge at www.sec.gov.

The disclosure schedules contain information that has been included in our general prior public disclosures, as well as potential additional non-public information. Moreover, information concerning the subject matter of the representations and warranties may have changed since the date of the credit agreement, which subsequent information may or may not be fully reflected in public disclosures.

A copy of the Third Amended and Restated Credit Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

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Item 2.02. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information disclosed under Item 1.01 and in Exhibit 10.1 is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On February 18, 2014, the Company issued a news release discussing its exploration results for 2013 as well as certain planned exploration and pre-development activities for 2014. A copy of the Company's news release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference. The news release shall be deemed furnished, not filed, for purposes of this Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit Number Description 10.1 Third Amended and Restated Credit Agreement effective February 14, 2014, by and among Hecla Mining Company, Hecla Limited, Hecla Alaska LLC, Hecla Greens Creek Mining Company, and Hecla Juneau Mining Company, as the Borrowers, The Bank of Nova Scotia, as the Administrative Agent for the Lenders, and various Lenders. * 99.1 News Release, dated February 18, 2014. * Filed herewith Furnished herewith


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Source: Edgar Glimpses


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