DENVER, June 8, 2021 /PRNewswire/ - SSR Mining Inc.
(NASDAQ: SSRM) (TSX: SSRM) (ASX:SSR) ("SSR Mining" or "the
Company") announced today that it has amended its existing undrawn
revolving credit facility (the "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.
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.
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.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold
company with four producing assets located in the USA, Turkey,
Canada, and Argentina, combined with a global pipeline of
high-quality development and exploration assets in the
USA, Turkey, Mexico, Peru,
and Canada. In 2020, the four
operating assets produced approximately
711,000 gold-equivalent ounces. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.
SSR Mining Contacts:
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (888) 338-0046 or +1 (604) 689-3846
To receive SSR Mining's news releases by e-mail, please
register using the SSR Mining website at www.ssrmining.com.
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SOURCE SSR Mining Inc.