Skeena Resources Limited Completes US$750 Million Senior Secured Notes Offering

Skeena Resources Limited has completed an offering of US$750 million in Senior Secured Notes due 2031. The offering is part of a refinancing strategy to optimize the company's capital structure, reduce the cost of capital, and enhance financial flexibility. The proceeds will be used to repurchase 66.67% of the Gold Stream for US$184 million, pre-fund 18 months of interest payments on the Notes with US$94 million, and allocate approximately US$470 million towards the remaining construction at Eskay Creek, general corporate purposes, and issuance expenses. This move is expected to increase Skeena's exposure to gold prices and future production from Eskay Creek, simplify its capital structure, and improve future operating margins. The company also announced the cancellation of its undrawn US$350 million Senior Secured Loan and US$100 million Cost Overrun Facility. Skeena anticipates initial production at Eskay Creek in Q2 2027.