SSR Mining amended its existing undrawn revolving credit facility on favorable terms, increasing the Facility size from US$75 million to US$200 million. The new Facility includes an upsized accordion feature from US$25 million to US$100 million and the term of the Facility has been extended by 4 years to June 8, 2025. CIBC acted as the Sole Lead Arranger, Sole Bookrunner and as Administrative Agent in connection with the amended Credit Facility, with Bank of Montreal and The Bank of Nova Scotia acting as Co-Syndication Agents. The other syndicate lenders include Royal Bank of Canada and ING Capital LLC.
Amounts that are borrowed under the Facility will incur variable interest at London Interbank Offered Rate plus an applicable margin ranging from 2.00% to 3.00%, determined based on the Company's net leverage ratio and amounts drawn from the Facility. All debts, liabilities and obligations under the Facility are guaranteed by the Company's material North American subsidiaries and secured by assets of the Company, certain of the material subsidiaries, and the pledges of material subsidiaries. The Facility may be used by the Company for working capital, reclamation bonding and other general corporate purposes.