Hecla Mining Company announced on August 1, 2025, the issuance of a partial redemption notice for $212 million of its outstanding $475 million 7.25% Senior Notes due 2028. The redemption is expected to occur around August 19, 2025, at a price of 101.813% of the principal amount.
This partial redemption was funded by the strategic use of the company's At-The-Market (ATM) financing facility, which involved selling approximately 36 million common shares at an average price of $6.10 per share. This approach was chosen to minimize shareholder dilution compared to traditional equity financing methods.
Additionally, subsequent to the second quarter, the CAD 50 million IQ Notes, issued in 2020 to Investissement Quebec, were fully repaid on July 9, 2025, utilizing free cash flow generation. These debt reduction actions are projected to lower Hecla's annual interest expense by approximately $16 million, enhancing financial flexibility and freeing up capital for high-return organic growth opportunities.
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