Capstone Copper Corp. has amended its existing revolving credit facility, increasing the total commitment and extending its maturity. The revised facility now totals $1 billion, up from $700 million, and its maturity date has been extended from September 2027 to May 2029.

The updated revolving credit facility, referred to as the Amended Credit Facility, features an interest rate based on a sliding scale tied to the adjusted term Secured Overnight Financing Rate (SOFR), plus a margin ranging from 1.75% to 2.75%. It also includes a $200 million accordion feature, allowing for future expansion subject to specific conditions.

Increased availability under the credit facility is contingent upon the refinancing of the company’s Mantoverde Development Project Facility. As part of its ongoing balance sheet optimization strategy, Capstone plans to use proceeds from the previously announced $600 million offering of 6.750% senior unsecured notes due in 2033 to repay its 70% share of the project financing debt at its Mantoverde S.A. subsidiary.

“This represents a further step toward enhancing our balance sheet strength and flexibility,” said Chief Financial Officer Raman Randhawa. “We are pleased to have achieved competitive terms and an extended maturity to 2029 on our revolving credit facility. Combined with the new senior unsecured notes announced in March and the anticipated repayment of our share of the Mantoverde Development Project Facility, we now have a simplified debt capital structure, with our only significant maturities occurring in 2029 and 2033.”

The Amended Credit Facility includes standard provisions relating to fees, financial covenants, representations, and warranties.

CIBC served as the administrative agent, joint bookrunner, and co-lead arranger for the amended facility. The Bank of Nova Scotia acted as the syndication agent, joint bookrunner, and co-lead arranger, while ING Capital LLC also participated as a joint bookrunner and co-lead arranger.

This move reflects Capstone’s broader strategy to strengthen financial flexibility and align its capital structure with long-term growth initiatives. The company has positioned itself to better manage upcoming financial obligations while supporting the development of its key assets, including the Mantoverde project in Chile.

Capstone Copper is a Canadian-based copper mining company with operations across the Americas, focusing on sustainable copper production and development. The company continues to pursue financial initiatives aimed at enhancing liquidity and supporting its operational and strategic goals.

Capstone Copper Corp., headquartered in Vancouver, Canada, is a copper mining company focused on the Americas. The company owns and operates several key assets, including the Pinto Valley copper mine in Arizona, USA; the Cozamin copper-silver mine in Zacatecas, Mexico; the Mantos Blancos copper-silver mine in Chile’s Antofagasta region; and a 70% interest in the Mantoverde copper-gold mine in Chile’s Atacama region. Additionally, Capstone Copper holds the fully permitted Santo Domingo copper-iron-gold project, located about 30 kilometres northeast of Mantoverde in the Atacama region, along with a portfolio of exploration properties throughout the Americas.