April 1, 2010 (FinancialWire) — Mercator Minerals Ltd. (TSX – ML) (OTC: MLKKF) said that its wholly-owned subsidiary Mineral Park Inc. has mandated Société Générale and WestLB AG to act as Joint bookrunners and has received and accepted commitments from lead arrangers Société Générale, WestLB AG, Credit Suisse and Barclays Capital for credit facilities aggregating $130 million.

The company said it will use the proceeds of the facilities, when closed, to redeem its outstanding 11.5% senior secured notes.

The credit facilities are comprised of a $100 million term loan with a one year grace and a five year amortization and a $30 million revolving credit facility repayable on the fourth anniversary, subject to an annual extension option at the Lenders' discretion.

Closing is scheduled to occur within the next several weeks.

Canada-based Mercator Minerals is a mining company with operations at the Mineral Park Mine, a copper-moly mining-milling operation. Mercator management is focused on maximizing profits at the Mineral Park Mine and the development of the El Pilar copper project in Mexico.

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