SSR Mining amended its existing undrawn revolving credit facility, increasing the facility size from $75 million to $200 million. The new facility includes an upsized accordion feature from $25 million to $100 million and the term of the facility has been extended by four years to June 8, 2025.

Amounts that are borrowed under the facility will incur variable interest at LIBOR plus an applicable margin ranging from 2% to 3%, determined based on SSR Mining’s net leverage ratio and amounts drawn from the facility. All debts, liabilities and obligations under the facility are guaranteed by SSR Mining’s material North American subsidiaries and secured by assets of the company, certain of the material subsidiaries and the pledges of material subsidiaries. SSR Mining may use the facility for working capital, reclamation bonding and other general corporate purposes.

CIBC acted as the sole lead arranger, sole bookrunner and administrative agent in connection with the amended credit facility, with Bank of Montreal and the Bank of Nova Scotia acting as co-syndication agents. Royal Bank of Canada and ING Capital were the other syndicate lenders for the transaction.