Loan & DebtJun 17, 2026, 05:06 PM
IAMGOLD Corp. Increases Revolving Credit Facility to $850M, Extends Maturity to 2030
AI Summary
IAMGOLD Corporation announced an amendment to its senior secured revolving credit facility, increasing the total available commitments to $850 million and extending the maturity date to June 17, 2030. The amended facility also features improved pricing with a lower interest rate margin and enhanced covenant flexibility, including an increased leverage ratio. The facility remains undrawn and includes an accordion feature for potential further increases.
Key Highlights
- IAMGOLD Corp. increased its revolving credit facility from $650 million to $850 million.
- The maturity date for the credit facility has been extended to June 17, 2030.
- The facility includes an accordion feature allowing for an additional $250 million in commitments.
- The applicable interest rate margin has been reduced to 1.875%-2.875% from 2.75%-3.75%.
- The maximum total net leverage ratio covenant was increased to 4.0x.
- The credit facility remains undrawn.
Price Impact
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