Skeena Prices $750 Mln 8.5% Senior Secured Notes

Skeena Resources priced $750 million aggregate principal of 8.50% senior secured notes due 2031. The issuance will raise immediate liquidity but carries a relatively high coupon (8.50%), implying an annual cash interest cost of about $63.8 million on the full principal and a material increase in the company's fixed financing burden.

Analysis

Skeena Resources priced $750 million aggregate principal of 8.50% senior secured notes due 2031. The issuance will raise immediate liquidity but carries a relatively high coupon (8.50%), implying an annual cash interest cost of about $63.8 million on the full principal and a material increase in the company's fixed financing burden.