Mr. Edward Farid reports
SSR MINING ANNOUNCES $400 MILLION SENIOR SECURED REVOLVING CREDIT FACILITY
SSR Mining Inc. has amended its existing revolving credit facility on favourable 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 four years, now maturing 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 the company's net leverage ratio and amounts drawn from the facility and will range from 2.00 per cent to 2.75 per cent. 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
Inc.
SSR Mining is a leading, free-cash-flow-focused gold company with four producing operations located in the United States, Turkey, 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 Toronto Stock Exchange, and SSR on the Australian Securities Exchange.
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