Skeena Resources Prices $750 Million in 8.5% Senior Secured Notes

Apr 02, 2026 11:49 UTC

SKE, SKE.TO

Short term

Skeena Resources Ltd. has priced a $750 million offering of 8.5% senior secured notes due 2031. The company plans to use the proceeds to fund a stream buy-down and advance its Eskay Creek project.

Skeena Resources priced $750 million in 8.5% senior secured notes due 2031.
The offering is secured by a first-priority lien on assets including the Eskay Creek project.
Proceeds will fund a $184 million stream buy-down and a $94 million interest reserve account.
The company plans to cancel its existing $350 million senior secured term loan.
The transaction aims to improve operating margins and enhance the economics of the Eskay Creek project.
Skeena's shares fell 5.52% in pre-market trading to $29.25.

Skeena Resources Ltd. (SKE, SKE.TO) has finalized the pricing of a $750 million aggregate principal amount offering of 8.5% senior secured notes, set to mature in 2031. The notes are expected to close on April 10 and will be guaranteed by certain subsidiaries, secured by a first-priority lien on assets including the Eskay Creek project. The company will allocate approximately $184 million of the proceeds to fund a stream buy-down, with around $94 million reserved for an interest reserve account. The remaining funds will support the Eskay Creek project, cover fees, and address general corporate needs. Skeena also intends to cancel its existing $350 million senior secured term loan and related cost overrun facility upon completion of the offering. The transaction is anticipated to improve operating margins and enhance the economics of the Eskay Creek project. In pre-market trading, Skeena Resources shares fell 5.52% to $29.25 on the New York Stock Exchange.