SSR Mining lifts revolving facility to $200 million, upsizes accordion

By Rebecca Melvin

Concord, N.H., June 8 – SSR Mining Inc. increased the size of its undrawn revolving credit facility to $200 million from $75 million and upsized its accordion feature to $100 million from $25 million.

The facility matures June 8, 2025, an extension of four years.

The changes are part of an amended undrawn revolving credit facility.

The facility bears interest at Libor plus 200 basis points to 300 bps, 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 pledges of material subsidiaries. The facility may be used by the company for working capital, reclamation bonding and other general corporate purposes.

CIBC acted as lead arranger, bookrunner and administrative agent in connection with the amended facility. Bank of Montreal and Bank of Nova Scotia acted as co-syndication agents. The other syndicate lenders include Royal Bank of Canada and ING Capital LLC.

The Vancouver, B.C.-based gold and silver company, formerly known as Silver Standard Resources, owns gold-producing assets in the United States, Turkey, Mexico, Peru and Canada.

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