Miner Troilus Seeks Up to $400 Million in Debt for Quebec Gold Mine

Canadian mining developer Troilus Mining Corp. plans to issue subordinated debt and other potential non-equity instruments to help advance its gold and copper project in Quebec.

The new financing will range from $300 million to $400 million and is expected to be announced within weeks, according to people familiar with the matter, asking not to be identified because the matter is still private. The debt sale would lift the amount raised for reviving a mine in north-central Quebec to around $1.5 billion.