Triple Flag Precious Metals expands credit facility to $1 billion

TORONTO - Triple Flag Precious Metals Corp. (TSX: TFPM, NYSE: TFPM), a precious metals streaming and royalty company with a market capitalization of $4.43 billion, announced an expansion and amendment of its credit facility terms, now boasting a total available liquidity of $1 billion. This move represents a significant increase from the prior arrangement, which included a $500 million credit facility with an additional $200 million accordion feature. According to InvestingPro data, the company operates with moderate debt levels and maintains strong liquidity, with current assets well exceeding short-term obligations.

The amended credit facility now stands at $700 million, with an uncommitted accordion option of up to $300 million. The renewed terms also come with a reduced interest rate, now at SOFR plus 1.45% to 2.75% annually, a decrease of 30 basis points from the previous agreement, contingent on the company’s leverage ratio.

This credit facility, set to mature in April 2029, has been jointly led by a syndicate of banks including National Bank of Canada, Bank of Nova Scotia, and Canadian Imperial Bank of Commerce, with additional support from Royal Bank of Canada, Toronto-Dominion Bank, Bank of America, Bank of Montreal, and UBS.

Eban Bari, Chief Financial Officer of Triple Flag, commented on the credit facility’s expansion, stating that it reflects the company’s increased scale and robust growth. He emphasized that the improved financial flexibility will enable Triple Flag to pursue accretive growth opportunities, highlighting the company’s strong financial outlook and current zero debt balance. The company’s strong performance is evident in its impressive 31.84% revenue growth and industry-leading gross profit margin of 85.79%. InvestingPro analysis reveals additional insights, with 14 key investment tips available to subscribers, including detailed metrics on the company’s growth trajectory and market positioning.

Triple Flag Precious Metals offers investors exposure to gold and silver through a diverse portfolio, consisting of 17 streams and 219 royalties on a global scale, including 30 producing mines and 206 development and exploration stage projects.

The information provided is based on a press release statement and includes forward-looking statements regarding operational and corporate developments, the company’s ability to pursue growth opportunities, and expectations for future periods. The stock has shown remarkable momentum, with a year-to-date return of 47.3% and is currently trading near its 52-week high. For comprehensive analysis and detailed financial metrics, investors can access the full Triple Flag Precious Metals research report on InvestingPro, which is part of their coverage of over 1,400 US equities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

Investors are cautioned that the forward-looking statements are based on the company’s current expectations and assumptions, which are subject to a variety of risks and uncertainties. Triple Flag Precious Metals Corp. has made these statements as of the date of the press release, and the company undertakes no obligation to update or revise any forward-looking information, except as required by law.

In other recent news, Triple Flag Precious Metals Corp. has announced its acquisition of a 1.0% Net Smelter Return royalty on AngloGold Ashanti’s Expanded Silicon gold project in Nevada, valued at C$343 million. This project, which is expected to begin production after 2029, has a resource base estimated at 16 million ounces. Analyst Christopher LaFemina from Jefferies has responded to this acquisition by raising the firm’s stock price target for Triple Flag to $26.00, up from $24.00, while maintaining a Buy rating. The analyst highlighted the strategic value of the acquisition, as it secures a long-term revenue stream without any step-downs or buydowns in the royalty structure. Additionally, the Pre-Feasibility Study for the project is expected later this year, which will provide further insights into its economic potential. Separately, Triple Flag has scheduled its Annual Meeting of Shareholders, as disclosed in a recent SEC filing. This meeting will cover various corporate matters, including the election of the board of directors and approval of financial statements. The SEC filing also includes proxy materials to facilitate shareholder participation, underscoring the company’s commitment to regulatory compliance and transparency.

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