Hecla Mining lands $500M credit facility, replacing 2022 deal
What's the deal? Hecla Mining CompanyDealroom has a profile for this one. Try Dealroom → entered a new $500 million senior secured revolving credit facility on September 16, 2026. The line matures in 2030 and can be increased by up to $100 million. It replaces the company's 2022 credit agreement, which was terminated the same day.
What's the endgame? The facility is available for working capital, capital expenditures, and general corporate purposes, including refinancing existing debt. Collateral is limited to pledges of certain subsidiary equity interests, rather than a mortgage or broad asset lien on the Greens Creek mine.
What could go wrong? The new agreement adds customary covenants, plus leverage and interest coverage requirements. It also restricts dividends and other capital stock-related payments, potentially limiting capital allocation flexibility for shareholders.
Hecla, which carries a market capitalisation of $12.09 billion, operates through subsidiaries including Hecla Greens Creek Mining CompanyDealroom has a profile for this one. Try Dealroom → and Hecla Alaska LLCDealroom has a profile for this one. Try Dealroom →. The most recent analyst rating on the stock is a Buy, with a $20.00 price target.
The signal: At $500 million, the facility sits in the upper reaches of debt raises by size, underscoring the scale a producing miner can command to refinance and fund operations. Swapping asset liens for equity pledges signals a de-risked balance sheet — and lenders' confidence in Hecla's cash generation.
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Image credit: James St. John
