SSR Mining Upsizes Revolving Credit Facility to $600M, Extends Maturity to 2030
SSRM has more than doubled off its 52-week low of $12.22.
Summary
SSR Mining amended and restated its senior secured revolving credit facility, increasing commitments from $400 million to $600 million and extending maturity to July 31, 2030, with modified covenants.
Key Events · Financing and Capital Events · SSRM
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Credit Facility Upsized to $600M
SSR Mining entered into a Second Amended and Restated Credit Agreement, increasing its senior secured revolving credit facility from $400 million to $600 million.
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Maturity Extended to 2030
The facility's maturity was extended to July 31, 2030, providing long-term liquidity.
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Covenant Modifications
The amendment increased the investment basket to $400 million, raised the capital lease/Purchase Money Lien limit to $200 million, and added financial covenants (Interest Coverage ≥ 3.00x, Net Leverage ≤ 4.00x, Senior Secured Leverage ≤ 3.00x) while Permitted Notes are outstanding.
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Default Threshold Raised
The default threshold for failure to pay Material Indebtedness was increased to $50 million.
Analysis · SSRM · Energy & Transportation
Replacing its $400 million credit facility with a larger $600 million arrangement, SSR Mining extended the maturity to 2030. The amendment also loosens certain investment and debt baskets, and introduces financial covenants tied to Permitted Notes. This provides greater liquidity and financial flexibility, reflecting lender confidence following the company's recent asset sales and buyback programs.
At the time of this filing, SSRM was trading at $26.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.5B. The 52-week trading range was $12.22 to $36.52. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.