The Perseus Mining Ltd (ASX: PRU) share price could be in focus today after the company announced it has refinanced and upsized its debt facility to US$400 million, boosting total liquidity to more than US$1.2 billion.
What did Perseus Mining report?
- Signed a new syndicated revolving corporate facility of US$400 million, replacing the previous US$300 million facility
- Accordion option of an additional US$100 million available
- As at 30 September 2025, net cash position was US$837 million
- Total available liquidity now exceeds US$1,237 million
- Facility tenure of three years, with an option to extend for another two years (1+1)
- Achieved a margin reduction of 125 basis points against the previous facility
What else do investors need to know?
Perseus Mining appointed Citi and Nedbank as mandated lead arrangers and bookrunners for the new facility, which adds two additional international banks to its lending group. The amended facility is now supported by a total of eight international banks, reflecting strong market confidence in the company.
Facility terms include more flexible covenant arrangements and competitive pricing, secured after the loan syndication was oversubscribed. The company says no minimum hedging requirements are attached.
With this financial cushion, Perseus Mining is well placed to pursue its stated five-year growth outlook, while maintaining a commitment to shareholder returns through dividends and potential buybacks.
What did Perseus Mining management say?
Perseus's Chief Financial Officer, Lee-Anne de Bruin, said:
Perseus has received very strong support from a consortium of high-quality international lenders including two additional international banks joining the syndication. The process was more than 100% oversubscribed which is regarded as a major endorsement of the underlying quality of our assets and future cash flows.
With cash and undrawn debt capacity exceeding US$1.2 billion, Perseus is fully funded to deliver on our 5 Year Outlook and pursue future growth opportunities whilst maintaining our commitment to return funds to shareholders via ongoing dividends and share buy backs.
What's next for Perseus Mining?
Looking ahead, Perseus Mining says its strengthened financial position will help underpin project development and expansion plans. The enhanced liquidity also provides flexibility to manage both expected and unexpected events.
The company reaffirmed its focus on growth across its portfolio and ensuring ongoing returns for shareholders, supported by the stability this funding arrangement brings.
Perseus Mining share price snapshot
Over the past 12 months, Perseus Mining shares have risen 119%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
