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Nickel Mines Ltd. ( (AU:NIC) ) just unveiled an update.
Nickel Industries has secured new unsecured syndicated loan facilities totalling US$450 million, led by Indonesia’s BNI, comprising a US$350 million term loan and a US$100 million revolving facility. The funding will refinance US$398 million of existing bank debt and support general working capital, with interest margins linked to the company’s leverage ratio over a term maturing in June 2030.
The revised debt structure introduces quarterly amortisation after six months and a final bullet payment, improving cash flow flexibility as the Excelsior Nickel Cobalt HPAL project ramps up. The facilities also accommodate a loan guarantee tied to Sphere Corporation’s 10% stake in ENC, while excluding related contingent obligations from covenant tests, leaving Nickel Industries with net debt of about US$994 million and extending its funding runway for growth in battery-focused nickel products.
The most recent analyst rating on (AU:NIC) stock is a Buy with a A$1.15 price target. To see the full list of analyst forecasts on Nickel Mines Ltd. stock, see the AU:NIC Stock Forecast page.
More about Nickel Mines Ltd.
Nickel Industries Limited is an ASX-listed producer of nickel products with a portfolio of mining and low-cost downstream processing assets in Indonesia. The company owns the Hengjaya Mine and four rotary kiln electric furnace projects that produce nickel pig iron for the stainless-steel industry, and it is expanding into battery materials via interests in HPAL projects such as HNC and Excelsior Nickel Cobalt.
Average Trading Volume: 12,869,773
Technical Sentiment Signal: Buy
Current Market Cap: A$4.32B
For an in-depth examination of NIC stock, go to TipRanks’ Overview page.