Centerra Gold Announces Extension and Increase of its Corporate Credit Facility

Centerra Gold Inc. (CG) has amended its revolving credit facility, expanding the total available size from US$400 million to US$600 million. The maturity date for the facility has been extended to July 15, 2030, establishing a four-year term. Additionally, interest rate margins have been tightened, reducing the applicable margin based on SOFR from 2.25%–3.25% to 1.875%–3.000%.

As of the announcement date, no amounts have been drawn under the facility, leaving the full US$600 million available. The proceeds are designated for general corporate purposes, including working capital, acquisitions, and capital expenditures.

Centerra Gold Inc. (CG) announced an expansion of its credit facility and improved interest rates, a move consistent with the company’s significant capital deployment into the Thompson Creek and Goldfield projects. The transaction reinforces the balance sheet’s capacity to self-fund its growth pipeline without requiring equity dilution.

The stock has declined approximately 6% since the Q1 earnings release. This movement reflects broader metal price volatility rather than company-specific deterioration, as the market has already priced in the company’s operational execution and liquidity strength.

Centerra Gold Inc. is a producing gold and copper mining company with operations in Canada, Türkiye, and the USA. Its operating assets include the Mount Milligan copper-gold mine in British Columbia and the Öksüt gold mine in Türkiye. The company also holds a molybdenum business unit comprising the Endako Mine, Thompson Creek Mine, and the Langeloth Metallurgical Facility. Development projects include the Goldfield gold project in Nevada and the Kemess copper-gold project in British Columbia. The company maintains a disciplined capital allocation strategy focused on self-funded growth, operational efficiency, and shareholder returns.