Debt restructure leverages enhanced liquidity
Paladin Energy restructured its debt facility to right-size its overall debt capacity and leverage an enhanced liquidity position.
The uranium producer’s lenders are Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division), Nedbank Namibia Limited and Macquarie Bank
The original debt facility was executed in January 2024 prior to the recommencement of production at the Langer Heinrich Mine (LHM) and the company’s acquisition of Fission Uranium Corp.
The restructure aims to right-size the overall debt capacity, reducing it from US$150M to US$110M, leveraging Paladin’s enhanced liquidity position following the successful completion of the A$300M equity raise and A$100M Share Purchase Plan in 2025. The restructure also reflects Paladin’s increasing maturity as a uranium producer as it continues to progress the ramp up at the LHM, while providing greater undrawn debt capacity and balance sheet flexibility.
The restructure provides Paladin with a US$110M debt facility including:
- Term Loan Facility of US$40M (30 September balance: US$79.8M), reducing costs associated with the current debt portfolio, maturing on 28 February 2029
- An undrawn Revolving Credit Facility of US$70M (30 September balance: undrawn US$50M Facility), providing additional undrawn debt capacity, maturing on 28 February 2027 with an option to extend twice by a further year
As part of the restructure, a repayment of US$39.8M will be made to reduce the Term Loan Facility at completion
