Silvercorp Metals (TSX/NYSE American: SVM) inks RMB1.5B 3-year loan
Rhea-AI Filing Summary
Silvercorp Metals Inc. has entered into a 3-year syndicated term loan facilities agreement totaling RMB1.5 billion (approximately US$220 million) with a syndicate of international banks, led by Standard Chartered Bank (Hong Kong) Limited as sole mandated lead arranger and bookrunner.
Total bank commitments reached RMB2 billion (approximately US$293 million), a 2x oversubscription versus the original RMB1 billion target. The company plans to use the new term loan for general corporate purposes and to support global working capital needs, aiming to optimize its capital structure and enhance financial flexibility.
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Insights
Silvercorp adds a sizable 3-year RMB1.5B term loan to support global growth and liquidity.
Silvercorp Metals secured syndicated term loan facilities of RMB1.5 billion (about US$220 million) with international banks, with total commitments of RMB2 billion (about US$293 million). The facility tenor is three years, providing medium-term funding aligned with its mining portfolio.
The company states the proceeds will be used for general corporate purposes and global working capital, describing the financing as reinforcing its long-term strategic growth objectives, including opportunities in Kyrgyzstan and Ecuador. This suggests a focus on funding ongoing operations and expansion rather than immediate balance sheet stress.
The news notes that this financing complements existing cash reserves and operating cash flow, indicating an additional layer of financial flexibility rather than a standalone lifeline. Future disclosures in periodic reports can clarify interest costs, covenants, and how actively the facility is drawn over its 3-year life.
Key Figures
Key Terms
syndicated term loan facilities financial
material change report regulatory
oversubscription financial
forward-looking statements regulatory
ESG financial
Sarbanes-Oxley Act regulatory
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 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File No. 001-34184
SILVERCORP
METALS INC.
(Translation of registrant’s name into English)
Suite 1750 - 1066 West Hastings Street
Vancouver, BC Canada V6E 3X1
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]
Form 20-F ¨ Form 40-F x
SUBMITTED HEREWITH
Exhibit 99.1 included with this report is hereby incorporated by reference as an exhibit to the registrant’s registration statement on Form F-10 as amended and supplemented, and to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBIT INDEX
| EXHIBIT | DESCRIPTION OF EXHIBIT | |
| 99.1 | Material Change Report dated April 30, 2026 |
SIGNATURE
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.
| Dated: April 30, 2026 | SILVERCORP METALS INC. |
| /s/ Jonathan Hoyles | |
| Jonathan Hoyles | |
| General Counsel and Corporate Secretary |
Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
| Item 1: | Name and Address of Company |
Silvercorp Metals Inc. (“Silvercorp” or the “Company”)
Suite 1750 – 1066 West Hastings Street
Vancouver, British Columbia, Canada
V6E 3X1
| Item 2: | Date of Material Change |
April 20, 2026
| Item 3: | News Release |
A news release announcing the material change was disseminated via Cision on April 20, 2026 and a copy was filed on the Company’s profile at www.sedarplus.ca and on the Company’s website at www.silvercorpmetals.com
| Item 4: | Summary of Material Change |
On April 20, 2026, the Company announced that it has entered into a 3-year syndicated term loan facilities agreement with a syndicate of international banks. The sole mandated lead arranger and bookrunner is Standard Chartered Bank (Hong Kong) Limited.
The agreement is for an aggregate of RMB1.5 billion in principal, approximately US$220 million (with total bank commitments reaching RMB2 billion (approximately US$293 million) — representing a 2x oversubscription against the original target of RMB1 billion).
The proceeds will be used for general corporate purposes and to support the Company’s global working capital requirements, further optimizing the company’s capital structure and strengthening its financial flexibility.
| Item 5: | Full Description of Material Change |
Further details are provided in the attached Schedule “A” - News Release dated April 20, 2026.
| Item 6: | Reliance on subsection 7.1(2) of National Instrument 51-102 |
Not applicable.
| Item 7: | Omitted Information |
Not applicable.
| Item 8: | Executive Officer |
Lon Shaver, President (Tel: +1-604-669-9397)
| Item 9: | Date of Report |
April 30, 2026
Schedule “A”
to the Material Change Report dated April 30, 2026
NEWS RELEASE
Trading Symbol: TSX/NYSE American: SVM
Silvercorp Secures RMB 1.5 Billion (~US$220 Million) Syndicated Term Loan Facilities with 2x Oversubscription, Bolstering Financial Strength for Global Mining Growth
VANCOUVER, British Columbia – April 20, 2026 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) is pleased to announce that it has entered into a 3-year syndicated term loan facilities agreement (the “Facilities”) with a syndicate of international banks.
Transaction Highlights
| · | Facilities Size: An aggregate of RMB1.5 billion in principal, approximately US$220 million (with total bank commitments reaching RMB2 billion (approximately US$293 million) — representing a 2x oversubscription against the original target of RMB1 billion). |
| · | Maturity: 3 years from the date of initial drawdown. |
| · | Sole mandated lead arranger and bookrunner: Standard Chartered Bank (Hong Kong) Limited. |
| · | Interest Rates and Fees: |
| 1. | Facility A (Floating) in the amount of RMB425,500,000: Floating rate pricing based on CNH HIBOR (1.60% as of March 31, 2026) plus a margin of 1.92% per annum |
| 2. | Facility B (Fixed) in the amount of RMB1,047,500,000: Fixed interest rate of 3.67% per annum |
| 3. | Both tranches are subject to reduced interest rates based on the Company’s consolidated net leverage ratio |
| 4. | Facilities are subject to payment of certain fees, including an upfront fee |
| · | Repayment Currency: RMB, with future repayments funded from RMB dividends received outside of China from the Company’s China operations. |
| · | Use of Proceeds: for general corporate purposes and to support the Company’s global working capital requirements, further optimizing the company’s capital structure and strengthening its financial flexibility. |
| · | Security: The Facility will be guaranteed by, and secured by certain accounts and share security by, the Company and certain subsidiaries of the Company. |
This landmark financing complements the Company’s robust cash reserves, consistent operating cash flow, and established financing platform, reinforcing the financial foundation to deliver on its long-term strategic growth objectives across a global mining portfolio – including growth opportunities in Kyrgyzstan and Ecuador.
About Silvercorp
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company’s strategy is to create shareholder value by 1) focusing on generating free cash flow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorpmetals.com.
For further information
Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com
CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS
This news release includes “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 securities laws relating to, among other things statements regarding the Facilities, interest rates applicable to the Facilities, fees payable in connection with the Facilities, use of proceeds of the Facilities, timing of future repayment of the Facilities, and the Facilities reinforcing the foundation for the long-term strategic growth objectives of the Company. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information may in some cases be identified by words such as “will”, “anticipates”, “expects”, “intends” and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors, including fluctuating commodity prices; recent market events and condition; activities of anti-mining groups; estimation of mineral resources, mineral reserves and mineralization and metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; climate change; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into existing operations; permits and licences for mining and exploration in China; title to properties; non-controlling interest shareholders; acquisition of commercially mineable mineral rights; financing; competition; operations and political conditions; regulatory environment in Ecuador and China; regulatory environment and political climate in Bolivia and Ecuador; integration and operations of Adventus; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; outcome of current or future litigation or regulatory actions; bringing actions and enforcing judgments under U.S. securities laws; cyber-security risks; public health crises; the Company’s investment in New Pacific Metals Corp. and Tincorp Metals Inc.; and the other risk factors described in the Company’s Annual Information Form and other filings with Canadian and U.S. regulators on www.sedarplus.ca and www.sec.gov; could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represents expectations as of the date of this news release and is subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.
A comprehensive discussion of other risks that impact Silvercorp can also be found in their public reports and filings which are available under its profile at www.sedarplus.ca and www.sec.gov.