IAMGOLD Corporation amended its senior secured revolving credit facility, increasing the total commitment from $650 million to $850 million and extending the maturity date to June 17, 2030. The agreement now includes a $250 million accordion feature for additional liquidity potential, and the facility remains undrawn. The interest margin was reduced to a range of 1.875% to 2.875% over SOFR, down from 2.75% to 3.75%, while the maximum total net leverage ratio covenant was increased to 4.0x and standby fees were lowered. CEO Renaud Adams said the changes strengthen the company's financial position and lower its cost of capital, with the amended terms supported by a syndicate of lenders led by the National Bank of Canada and RBC Capital Markets.
IAMGold CorporationIAMGOLD increased its credit facility to $850M, extended maturity to 2030, reduced interest margin, and lowered cost of capital.
Royal Gold Inc
Royal Bank of Canada