SSR Mining Inc. Enters $600M Revolving Credit Agreement

What Happened
SSR Mining Inc. announced on July 31, 2026 that it entered into a Second Amended and Restated Credit Agreement, replacing its August 15, 2023 facility. The new agreement increases the company’s senior secured revolving credit commitment from $400.0 million to $600.0 million, is secured by substantially all present and future personal property of the company and certain material subsidiaries, and is scheduled to mature on July 31, 2030 (subject to extension provisions).

Key Details

• Facility size: $600.0 million aggregate commitment (up from $400.0M under prior agreement).
• Term / Security: Matures July 31, 2030; secured by substantially all present and future personal property of SSR Mining and certain material subsidiaries.
• Pricing: Loans may be in USD or CAD; interest options include Canadian Prime, Base Rate, CORRA, or SOFR with margins: CORRA/SOFR +1.75%–2.50%; Prime/Base +0.75%–1.50% (margin depends on Net Leverage Ratio).
• Covenants & limits: Increases investment basket to $400.0M; raises permitted indebtedness for certain capital lease/purchase-money liens to $200.0M; requires Interest Coverage Ratio ≥ 3.00:1, Net Leverage Ratio ≤ 4.00:1, Senior Secured Leverage Ratio ≤ 3.00:1 while any Permitted Notes are outstanding; raises default threshold for failure to pay Material Indebtedness to $50.0M.

Why It Matters
This amendment gives SSR Mining more committed liquidity and greater flexibility for investments and certain borrowings while preserving a secured bank backstop through mid-2030. The updated covenants and pricing tie borrowing costs and some company actions to leverage metrics—so maintaining those ratios will be important for avoiding defaults or higher borrowing costs. Investors should view this as a material financing update affecting the company’s capital structure, liquidity profile, and potential capacity for transactions while the facility is outstanding.