Paladin Energy Limited announced that it executed a $150 million syndicated debt facility (Debt Facility) on 24 January 2024. The Debt Facility will provide Paladin with capital flexibility as the Company recommences operations at the Langer Heinrich Mine (LHM) in Namibia and progresses its growth options, including progressing the Michelin exploration project in Canada. The execution of the Debt Facility marks the successful completion of a comprehensive syndication process, including LHM site visits by independent technical and environmental experts and financier teams, corporate due diligence and an international syndication process.

Paladin is pleased to have executed the Debt Facility with two lending financial institutions, Nedbank Limited, acting through its Corporate and Investment Banking division (Nedbank CIB) and Macquarie Bank Limited, with Nedbank CIB acting as lead arranger and bookrunner. The Debt Facility comprises: A $100 million amortising term loan (Term Facility) with a 5-year term; and A $50 million revolving credit facility (Revolving Facility) with a 3-year term (with two options to extend by 12 months) As at 31 December 2023, Paladin held cash and cash equivalents of $61.6 million, with no corporate debt, providing funding for the completion of the LHM Project and the restart of operations. Completion and first drawdown under the Debt Facility is conditional on the finalisation of the remaining documentation and other customary conditions precedent.