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Fortuna Silver reduces debt with $41 million revolver paydown
Chicago, Jan. 10 – Fortuna Silver Mines Inc. paid down an additional $41 million on its revolving credit facility at the end of the fourth quarter using cash on hand, according to a press release.
The paydown should bring the company’s leverage ratio below 0.5x total net debt to adjusted EBITDA.
As of Dec. 31, the company’s total outstanding debt stands at $165 million on a credit facility and approximately $46 million of convertible notes. Net debt, after cash and cash equivalents, stands at $83 million.
The reduction represents approximately $50 million of total net debt reduction in the period.
Fortuna is a silver producer based in Vancouver, B.C.
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