Aurelia Metals (ASX:AMI) announced an oversubscribed $150 million senior secured financing package.
The agreement, facilitated by a syndicate of tier-one international institutions including Citi, HSBC, and Credeq (representing Swiss Re), comprises a $110 million rehabilitation bonding facility and a $40 million revolving credit facility.
The new arrangement effectively replaces an existing $65 million RBF and an undrawn US$17.46 million loan facility from Trafigura, who remains a key concentrate offtaker for the firm.
A primary benefit of this restructuring is the anticipated release of approximately $38 million in currently restricted cash, previously held against rehabilitation bonds.
The RBF is structured with three and five-year tranches, while the RCF carries a three-year term; notably, neither facility requires amortisation, cash backing, or mandatory hedging, offering the company superior financial flexibility.
Managing Director and CEO Bryan Quinn highlighted that the competitive market pricing and improved terms provide a "highly cost-effective" alternative to previous debt structures.
The capital injection is positioned as a foundational milestone for Aurelia’s long-term growth objectives.
Quinn noted that the increased financial flexibility is essential as the company progresses toward its ambitious production target of 40,000 tonnes of copper equivalent by FY28.
Financial close and the subsequent release of restricted cash are expected to occur in Q4 FY26, following the completion of customary documentation and conditions precedent.