SSR Mining Inc. announced it will redeem all outstanding 2.50% convertible senior notes due 2039. The redemption price will be 100% of the principal, plus accrued and unpaid interest and a make‑whole premium that covers the present value of remaining scheduled interest through April 1 2026. The redemption is scheduled for March 20 2026.
The notes originally had an aggregate principal amount of $230 million, with $227.495 million currently outstanding. Noteholders can convert their notes into common shares at a rate of 56.7931 shares per $1,000 principal until March 19 2026. If all notes are converted, approximately 13 million shares would be issued, a number already reflected in the company’s fully diluted share count.
The redemption reduces SSR Mining’s long‑term debt exposure, improving its debt‑to‑equity ratio and bolstering its interest coverage ratio of 20.39. The action signals confidence in the company’s cash‑flow generation and its strategy to optimize capital structure.
The redemption is part of a broader capital‑allocation program that includes a $300 million share buyback approved on February 17 2026. Together, the debt reduction and buyback aim to enhance shareholder value while maintaining financial flexibility.
SSR Mining’s operations continue to face challenges from the Çöpler mine incident, which has imposed remediation costs and operational suspensions. The debt‑management action demonstrates the company’s focus on maintaining a strong balance sheet amid ongoing operational headwinds.
The notes were issued under an indenture dated March 19 2019, with Bank of New York Mellon serving as trustee.
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