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LUCARA ANNOUNCES CLOSING OF US$350.0 MILLION BOND FINANCING AND REPAYMENT OF PROJECT DEBT
LUCARA ANNOUNCES CLOSING OF US$350.0 MILLION BOND FINANCING AND REPAYMENT OF PROJECT DEBT ...
About this update from Lucara Diamond Corp.
[{"type":"text","content":"\n\n\nLUCARA ANNOUNCES CLOSING OF US$350.0 MILLION BOND FINANCING AND REPAYMENT OF PROJECT DEBT\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./VANCOUVER, BC, March 30, 2026 /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq FNGM: LUC)Lucara Diamond Corp. (\"Lucara\" or the \"Company\") is pleased to announce the successful closing of its previously announced private placement of US$350.0 million of senior secured bonds (the \"Bonds\") (see March 12, 2026 news release). The Bonds have a tenor of five years and will have a fixed coupon rate of 12.5 percent per annum, with interest payable in quarterly instalments. The net proceeds from the bond issuance have been applied to fully repay the Company's existing US$220.0 million senior secured project finance facilities with its previous lending syndicate. The remaining proceeds will be used to fund a dedicated debt service retention account covering two years of interest on the Bonds and to support the continued development of the Karowe Underground Project (the \"UGP\" or \"Project\"). PDF Version With the closing of the bond financing, which includes the ability to tap for a further US$50.0 million and the option to add a US$50.0 million Revolving Credit Facility (\"RCF\"), Lucara now has sufficient access to capital to advance the UGP through to completion, subject to execution in line with current expectations as outlined in the Company's updated Feasibility Study prepared in accordance with National Instrument 43-101 (see January 30, 2026 news release).William Lamb, President and CEO, commented: \"This financing marks a pivotal milestone for Lucara, significantly strengthening our balance sheet and providing the financial certainty required to advance the UGP through to completion. The successful placement of US$350.0 million in senior secured bonds, alongside the full repayment of our existing project debt, simplifies our capital structure while enhancing our liquidity and financial flex...