SSR Mining Announces $400 Million Senior Secured Revolving Credit Facility

Rhea-AI Summary

SSR Mining Inc. (SSRM) announces an amendment to its revolving credit facility, increasing it from $200 million to $400 million with an additional accordion feature of $100 million. The renewed term of 4 years now matures on August 15, 2027. The Facility incurs variable interest at the Secured Overnight Financing Rate plus an applicable margin, providing flexibility for working capital and general corporate purposes.

DENVER--(BUSINESS WIRE)-- SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") is pleased to announce an amendment to its existing revolving credit facility (the “Facility”) on favorable terms. The Facility size has been increased from $200 million to $400 million with an additional accordion feature of $100 million. The Facility has a renewed term of 4 years, now maturing on August 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 the Company’s net leverage ratio and amounts drawn from the Facility and will range from 2.00% to 2.75%. The expanded Facility will provide the Company with flexibility for working capital and other general corporate purposes.

The Bank of Nova Scotia has acted as Administrative Agent, and along with Canadian Imperial Bank of Commerce as Co-Lead Arrangers and Joint Bookrunners, in connection with the amended Facility.

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets. Over the last three years, the four operating assets combined have produced on average more than 700,000 gold equivalent ounces annually. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230815465945/en/

SSR Mining Contacts:

F. Edward Farid, Executive Vice President, Chief Corporate Development Officer 

Alex Hunchak, Director, Corporate Development and Investor Relations

SSR Mining Inc. 

E-Mail: invest@ssrmining.com 

Phone: +1 (888) 338-0046

To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.

Source: SSR Mining Inc.

FAQ

What is the name of the company in the press release and its ticker symbol?

The company is SSR Mining Inc. and its ticker symbol is SSRM.

What is the announcement made by SSR Mining Inc.?

SSR Mining Inc. has announced an amendment to its existing revolving credit facility, increasing it from $200 million to $400 million with an additional accordion feature of $100 million.

What are the terms of the amended Facility?

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 the Company’s net leverage ratio and amounts drawn from the Facility and will range from 2.00% to 2.75%.

Which banks are involved in the amended Facility?

The Bank of Nova Scotia has acted as Administrative Agent, and along with Canadian Imperial Bank of Commerce as Co-Lead Arrangers and Joint Bookrunners, in connection with the amended Facility.