Endeavour Mining Investor Presentation Deck
DEBT STRUCTURE
Refinanced to provide a low cost, long-term debt structure
REFINANCING INSIGHTS:
> On 14 October 2021, the Company completed an offering of fixed
rate senior notes due in 2026 and an unsecured RCF agreement due
in 2025
>
The proceeds of the Notes, together with the Group's available cash,
were used to repay the Company's existing loan facilities while the
RCF replaces the existing bridge facility and remains undrawn
> The RCF and senior notes extend the maturities of the Company's
existing debt structure, while providing enhanced financial flexibility
and ample liquidity headroom
DEBT STRUCTURE INCLUDE:
$330 Convertible Notes
>
3% coupon convertible notes matures in Februa 2023
> Ability to settle in cash or shares, conversion price¹ of CAD$29.84
(US$22.96)
$500 Senior Notes
> 5% fixed coupon rate notes mature in October 2026
> Issue price of 98.913%
$500 Unsecured RCF
> Coupon rate of 2.40 -3.40% plus LIBOR depending on leverage (if net
debt to EBITDA is less than 1.00x the rate is 2.40% plus LIBOR)
matures in October 2025
> The undrawn portion has a commitment fee of 35% of the applicable
margin (0.84% based on currently applicable margin)
Balance Sheet Structure
(in $ million unless stated otherwise)
Cash
Convertible senior notes
Senior notes
Drawn portion of loan facility
NET DEBT / (CASH) POSITION
Net Debt / Adjusted EBITDA (LTM)
$330m Convertible senior notes
$500m Senior notes
$500m Unsecured RCF²
Total Drawn Debt
31 Dec 2021
(1) Conversion price As of February 15, 2022 after adjusting for FY-2021 cash dividend. Prior Conversion price of US$23.90 at Issue
(2) $500m unsecured RCF remains undrawn at YE-2021, Interest rate shown based on effective rate as at 31 December 2021.
906
330
500
Debt Structure (as at 31 December 2021)
0
(76)
(0.05)x
Interest Rate, %
3.00
5.00
2.40
760
30 Sep 2021
330
0
500
ENDEAVOUR
70
MINING
0.05x
Maturity
Feb 2023
Oct 2026
Oct 2025
31 Dec 2020
715
330
0
310
75
(0.09)x
Amount drawn/
outstanding
330
500
0
830
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