Loan & DebtMay 21, 2026, 04:14 PM
Perpetua Resources Secures $2.9B EXIM Loan for Stibnite Gold Project
AI Summary
Perpetua Resources Corp. announced that the Export-Import Bank of the United States (EXIM) board unanimously approved a $2.9 billion senior secured long-term loan. This 13-year credit facility, part of the Make More in America Initiative, will support the development of the company's Stibnite Gold Project. The loan, which includes an upfront facility of $2.4 billion, is subject to definitive documentation and customary conditions, expected in the second half of 2026. The principal amount increased to potentially cover planned equipment financing.
Key Highlights
- EXIM Bank unanimously approved a $2.9 billion senior secured long-term loan for Perpetua Resources.
- The loan will support the development of the company's Stibnite Gold Project.
- The loan is structured as a 13-year senior secured credit facility.
- It includes an upfront facility of $2.4 billion, with the remainder for capitalized interest and fees.
- Interest will be set at the U.S. Treasury bond rate plus 100 basis points, fixed at first drawdown.
- Scheduled repayments are anticipated to commence in 2030.
- Definitive documentation and conditions precedent are expected to be completed in H2 2026.
Price Impact
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