Perseus Mining Limited (PRU), a gold producer operating in West Africa, today announced it has successfully refinanced and upsized its existing syndicated loan facility to US$400 million. Perseus is focused on discovering, developing and operating gold mines, aiming to create substantial benefits for its shareholders, employees and the communities in which it operates. The amended facility replaces the previous US$300 million facility and includes a US$100 million accordion option, offering increased financial flexibility.
The new facility has a three-year term with an option to extend for an additional two years. Perseus achieved very competitive pricing on the extended facility, which was reverse-flexed in syndication due to strong demand. This resulted in a total margin reduction of 125 basis points from the existing facility. Amendments to the facility terms also provide Perseus with greater flexibility across a range of financial covenants, reflecting the company’s improved credit profile.
The refinanced facility is available for general corporate purposes and, combined with Perseus’s net cash position of US$837 million as of September 30, 2025, provides the company with over US$1.237 billion in available liquidity. The banking consortium consists of eight international banks, including existing lenders Macquarie Bank Limited, Nedbank Limited, Absa Bank (Mauritius) Limited, Citi, FirstRand Bank Limited, and Standard Bank of South Africa Limited, along with new additions JP Morgan (Australia) and Standard Chartered (Australia).
Lee-Anne de Bruin, Perseus’s Chief Financial Officer, noted the strong support from a consortium of high-quality international lenders, with the process being oversubscribed. She stated that with cash and undrawn debt capacity exceeding US$1.2 billion, Perseus is fully funded to deliver on its 5-Year Outlook and pursue future growth opportunities while maintaining its commitment to return funds to shareholders via ongoing dividends and share buy backs. The announcement was authorised for release by Mr Craig Jones, Managing Director and Chief Executive Officer of Perseus Mining Limited.
