Perseus mining upsizes debt facility to $400m, bolsters liquidity

Perseus Mining Limited (ASX:PRU) announced on December 23, 2025, that it has successfully refinanced and upsized its existing syndicated loan facility from $300 million to $400 million, with an additional $100 million accordion option. This new facility has a three-year tenure with an option to extend for a further two years (1+1) and offers more flexible terms, including financial covenants, reflecting the company’s enhanced credit profile.

The amended facility, combined with Perseus’s September 30, 2025, net cash position of $837 million, provides the company with over $1,237 million in available liquidity. The new banking consortium includes eight international banks: Macquarie Bank Limited, Nedbank Limited, Absa Bank (Mauritius) Limited, Citi, FirstRand Bank Limited, Standard Bank of South Africa Limited, JP Morgan (Australia), and Standard Chartered (Australia).

The refinancing process, led by mandated lead arrangers and bookrunners Citi and Nedbank Limited, was oversubscribed by more than 100%, leading to a 125 basis point reduction in the total margin from the existing facility. This strong support underscores confidence in Perseus's assets and future cash flows, positioning the company to fund its five-year outlook and pursue growth opportunities while maintaining shareholder returns.