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PERSEUS MINING LIMITED — Capital/Financing Update 2025
Dec 22, 2025
46513_rns_2025-12-22_a4e8a717-6460-4555-9d0f-988eb682038b.pdf
Capital/Financing Update
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23 December 2025
NEWS RELEASE
CORRECTED: PERSEUS REFINANCES AND UPSIZES DEBT FACILITY TO US $400 MILLION
Perseus Mining Limited (ASX/TSX:PRU) refers to its release earlier today in relation to the refinance and upsize of its debt facility. In that release Macquarie Bank from Australia was inadvertently not listed as Mandated Lead Arranger. This is corrected in the attached version of the release.
This market announcement was authorised for release by the Chief Financial Officer of Perseus Mining Limited, Ms Lee-Anne de Bruin.
ASX/TSX CODE: PRU
CAPITAL STRUCTURE: Ordinary shares: 1,351,230,319
Performance rights: 8,654,248
REGISTERED OFFICE:
Level 2 437 Roberts Road Subiaco WA 6008 Telephone: +61 8 6144 1700
DIRECTORS:
Rick Menell Non-Executive Chairman
Craig Jones Managing Director & CEO Amber Banfield Non-Executive Director Elissa Cornelius Non-Executive Director Dan Lougher Non-Executive Director John McGloin Non-Executive Director James Rutherford Non-Executive Director
CONTACTS:
Craig Jones Managing Director & CEO [email protected]
Stephen Forman Investor Relations +61 484 036 681 [email protected]
Nathan Ryan Media +61 420 582 887 [email protected]
PERSEUSMINING.COM
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23 DECEMBER 2025 NEWS RELEASE
PERSEUS REFINANCES AND UPSIZES DEBT FACILITY TO US $400 MILLION
HIGHLIGHTS
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Perseus has signed a US$400 million syndicated revolving corporate facility replacing the existing US$300 million facility[1]
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Based on its 30th Sept 2025 Net Cash Position of US$837[2,1] million, the amended refinance facility provides Perseus with more than US$1,237 million of available liquidity with a three-year tenure plus an option to extend for a further two years (1+1)[3]
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Perseus well positioned to deliver on future growth opportunities and deliver long term value for our shareholders
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Citi and Nedbank Limited (acting through its Nedbank Corporate and Investment Banking Division) were appointed as Mandated Lead Arrangers and Bookrunners to lead the financing (“MLABs”)
Perseus Mining Limited (ASX/TSX: PRU) today announces it has successfully executed an amendment, including an upsize and extension, of its existing syndicated loan facility. Prior to the amendment and extension, the syndicated loan maturity was $300 million out to March 2026. The amended facility has been increased to US$400 million plus a US$100 million Accordion Option. It has a three year term plus an option to extend for two years (1+1)[3] . Very competitive pricing was achieved on the new extended facility, being reverse-flexed in syndication due to strong demand and resulting in a total margin reduction of 125 basis points from the existing facility. Amendments were made to provide Perseus with more flexibility across a range of terms, including Financial Covenants, reflecting the continued enhancement of Perseus’ credit profile.
The amended facility is available for general corporate purposes, subject to the satisfaction of certain customary conditions precedent, and combined with Perseus’s 30[th] Sept 2025 net cash position of US$837 million, it provides the company with more than US$1,237 million of available liquidity.
The new banking consortium consists of eight international banks comprising the six existing banks Macquarie Bank Limited from Australia; Nedbank Limited (acting through its Nedbank Corporate and Investment Banking Division); Absa Bank (Mauritius) Limited; Citi; FirstRand Bank Limited (acting through its Rand Merchant Bank Division); and Standard Bank of South Africa Limited (Isle of Man Branch) and two new international banks, JP Morgan (Australia) and Standard Chartered (Australia).
Perseus’s Chief Financial Officer Lee-Anne de Bruin said: “ Perseus has received very strong support from of a consortium of high-quality international lenders including two additional international banks joining the syndication. The process was more than 100% oversubscribed which is regarded as a major endorsement of the underlying quality of our assets and future cash flows.
With cash and undrawn debt capacity exceeding US$1.2 billion, Perseus is fully funded to deliver on our 5 Year Outlook and pursue future growth opportunities whilst maintaining our commitment to return funds to shareholders via ongoing dividends and share buy backs”.
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NEWS RELEASE | PERSEUS REFINANCES AND UPSIZES DEBT FACILITY TO US $400 MILLION
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Summary of terms of amended facility are:
| Mandated Lead Arrangersand Bookrunners | Citi and Nedbank Limited (acting through its Nedbank Corporate and Investment Banking Division) |
|---|---|
| Mandated Lead Arrangers | Macquarie Bank Limited from Australia; Absa Bank (Mauritius) Limited; FirstRand Bank Limited(acting through its Rand Merchant Bank Division); JP Morgan (Australia); Standard Bank of SouthAfrica Limited(Isle of Man Branch);and Standard Chartered(Australia) |
| Tenor | 3years(plus option to extend for 2years(1+1) |
| Interest | SOFR4 plus Margin based on Leverage ratio |
| Financial Covenants | Typical terms for a facilityof this nature includingInterest Cover Ratio and Net Leverage Ratio |
| Hedging | No minimum hedgingrequirements |
1. As detailed in the ASX release “Perseus Refinances and Upsizes Debt Facility to US$300m” dated 3 April 2023
2. Cash and Bullion of $837m as reported in the September 2025 Quarter Report
3. Subject to Lender Consent
4. Secured Overnight Financing Rate
This market announcement was authorised for release by Mr Craig Jones, Managing Director and Chief Executive Officer of Perseus Mining Limited
CAUTION REGARDING FORWARD LOOKING INFORMATION:
This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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NEWS RELEASE | PERSEUS REFINANCES AND UPSIZES DEBT FACILITY TO US $400 MILLION
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ASX/TSX CODE: PRU
CAPITAL STRUCTURE:
Ordinary shares: 1,351,230,319 Performance rights: 8,654,248
REGISTERED OFFICE:
Level 2 437 Roberts Road Subiaco WA 6008 Telephone: +61 8 6144 1700
DIRECTORS:
CONTACTS:
Rick Menell Craig Jones Non-Executive Chairman Managing Director & CEO [email protected] Craig Jones Managing Director & CEO Stephen Forman Investor Relations Amber Banfield +61 484 036 681 Non-Executive Director [email protected] Elissa Cornelius Nathan Ryan Non-Executive Director Media Dan Lougher +61 420 582 887 Non-Executive Director [email protected] John McGloin Non-Executive Director James Rutherford Non-Executive Director
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