SSR Mining, a free cash flow focused gold company with four producing operations located in the U.S., Türkiye, Canada and Argentina, announced an amendment to its existing revolving credit facility on favorable terms. The amendment increased the facility size from $200 million to $400 million with an additional accordion feature of $100 million. The facility also has a renewed term of four years and will now mature on Aug. 15, 2027.
Under the terms of the facility, amounts that are borrowed will incur variable interest at the Secured Overnight Financing Rate plus an applicable margin. The margin will be determined based on SSR Mining’s net leverage ratio and amounts drawn from the facility and will range from 2% to 2.75%. The expanded facility will provide SSR Mining with flexibility for working capital and other general corporate purposes.
The Bank of Nova Scotia acted as administrative agent for the facility. The Bank of Nova Scotia and the Canadian Imperial Bank of Commerce are co-lead arrangers and joint bookrunners for the facility.
