Lundin Mining Increases Existing Credit Facility to US$4.5 Billion

Executive Summary

• Lundin Mining amended its unsecured revolving credit facility, increasing the total committed amount from US$1.75 billion to US$4.5 billion and extending maturity to February 26 2031.
• Initial available borrowing is US$2.25 billion, with potential expansion to US$3.5 billion upon certain conditions and up to the full US$4.5 billion after sanctioning Stage 1 of the Vicuña Project.
• The facility bears interest at a sliding scale of SOFR + 1.45%–2.50%, providing significant additional liquidity for project financing and corporate purposes.

Key Details

• Amended Commitment: US$4.5 billion (up from US$1.75 billion).
• Initial Availability: US$2.25 billion; can increase to US$3.5 billion upon satisfaction of conditions, and to full US$4.5 billion after Vicuña Stage 1 sanction.
• Maturity Extension: New maturity date – February 26 2031.
• Interest Rate: Adjusted term SOFR plus a margin ranging from 1.45% to 2.50%, on a sliding scale.
• Administrative Agent / Lead Arrangers: Bank of Nova Scotia (Administrative Agent, Joint Bookrunner, Joint Lead Arranger); ING Capital LLC, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce (Joint Bookrunners/Lead Arrangers).
• Lender Syndicate: Includes major banks such as The Toronto‑Dominion Bank, Banco de Credito e Inversiones S.A., Bank of America N.A., Royal Bank of Canada, Barclays, JPMorgan Chase, MUFG Bank, among others.
• Purpose / Use of Proceeds: Provides additional financing capacity to support the Vicuña Project and general corporate liquidity needs (as indicated in forward‑looking statements).

Notable Quotes

(No direct quotes were included in the release.)