Coronado Global (ASX: CRN) Shares Surge 42.9% on $150 Million Refinancing Deal

Wed 04 Jun 25, 02:53 AM |

Highlights

Shares jump from 10.5 cents to 15.0 cents following liquidity update at AGM.

AUD 150 million facility secured with Oaktree, addressing near-term funding pressure.

AUD 75 million drawn immediately, with a further $75 million available over the next 12 months.

Shares of Coronado Global Resources Inc (ASX: CRN) surged 42.9% in morning trade to 15.0 cents, rebounding from yesterday’s close of 10.5 cents, after the coal miner announced a significant refinancing deal aimed at stabilizing its financial footing.

The sharp uptick came after Coronado revealed it has secured an AUD 150 million asset-based lending (ABL) facility from Oaktree Capital Management. The three-year facility, announced during the company’s Annual General Meeting (AGM), is backed by receivables and inventory assets. An initial AUD 75 million will be drawn at close, with the remainder available in AUD 25 million tranches over the next 12 months.

Chairman Gerry Spindler acknowledged the company has been under sustained financial pressure due to weak coal prices and high operating costs. He cited ongoing challenges with working capital, which had necessitated cost-cutting measures and a re-evaluation of operations.

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