Aurelia Metals (ASX: AMI) has completed financial close on a new A$150 million senior secured financing package, giving the miner greater liquidity and additional flexibility as it progresses its operations and growth plans.
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The new facilities include a $110M rehab bonding facility and a $40M revolving credit facility provided by a syndicate of lenders, including Citi, Credeq, and HSBC. The refinancing replaces Aurelia’s previous rehabilitation bond and loan facilities while releasing around A$46 million of restricted cash back onto the company’s balance sheet, improving available liquidity.
Aurelia’s CFO, Martin Cummings, said the refinancing was the result of a comprehensive process to secure a competitive funding package with a flexible structure.
He said the facilities would strengthen Aurelia’s balance sheet, increase liquidity and provide long-term support for the company’s rehabilitation obligations while positioning the business for its next phase of growth.
Aurelia’s rehabilitation bonding facilities have terms of three and five years, while the revolving credit facility has a three-year term. The package does not include mandatory hedging requirements and is backed by first-ranking senior security over the majority of the company’s assets.
AMI has been 29.8cps today.
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