Sherritt Warns C$79.5 Million Debt May Default as Trump Expands Cuba Sanctions

2 articles · Updated · Bloomberg · Jun 26

Sherritt International said its ability to continue as a going concern is in doubt after expanded US sanctions on Cuba threatened its financing.
The Canadian miner said meeting or refinancing debt remains uncertain because terms on its C$79.5 million credit facility let lenders declare a default and demand early repayment.
Trump’s executive order targeted foreign companies operating in Cuba, directly exposing Sherritt, one of the island’s biggest foreign investors, to the sanctions fallout.
The warning raises pressure on a company already reliant on access to credit, with its near-term financial stability now tied to lender responses under the facility.