Paladin Energy has announced the restructuring of its debt facility with Nedbank Limited, Nedbank Namibia Limited and Macquarie Bank, reducing its overall debt capacity from N$2.51 billion (US$150 million) to N$1.84 billion (US$110 million).
The company said the revised structure reflects its improved liquidity position following a successful N$3.31 billion (A$300 million) equity raise and a N$1.10 billion (A$100 million) share purchase plan completed earlier in 2025.
Under the new arrangement, the N$1.84 billion (US$110 million) facility comprises a N$668.4 million (US$40 million) term loan, maturing on 28 February 2029, and an undrawn N$1.17 billion (US$70 million) revolving credit facility.
The revolving facility matures on 28 February 2027 and includes options to extend twice by a further year, subject to lender approval.
As part of the restructuring, Paladin will make a N$665.1 million (US$39.8 million) repayment on completion to reduce the term loan balance, lowering financing costs across its existing debt portfolio.
“The original debt facility was executed in January 2024 prior to the recommencement of production at the Langer Heinrich Mine and the company’s acquisition of Fission Uranium Corp,” Paladin said.
Paladin said the revised facility is better aligned with its current operating profile and its increasing maturity as a uranium producer, while providing greater undrawn debt capacity and balance sheet flexibility.
The company continues to advance the ramp-up of operations at the Langer Heinrich Mine following the recommencement of production.
The restructuring follows a fully underwritten equity raising of approximately N$3.48 billion (A$300 million) completed in September to strengthen the company’s financial position as it advances its uranium projects, including the ramp-up of the Langer Heinrich Mine in Namibia.
The fundraising comprised a N$2.68 billion (A$231 million) placement on the Australian Securities Exchange, a N$398 million (C$30 million) private placement in Canada, and a N$418 million (A$36 million) sale of treasury shares previously acquired through the Fission Uranium Corp acquisition.
