IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) has amended its senior secured revolving credit facility, increasing total available commitments from $650 million to $850 million and extending the maturity date to June 17, 2030, from December 20, 2028, according to a press release.

The amended facility includes an accordion feature of up to $250 million, which could further increase total available liquidity subject to lender approval. The facility remains undrawn.

Under the revised terms, the applicable interest rate is set at SOFR plus a margin of 1.875% to 2.875%, based on the company's total net leverage ratio. The previous margin ranged from 2.75% to 3.75%. The pricing grid has been widened to accommodate a broader range of leverage levels, and the maximum total net leverage ratio covenant has been increased to 4.0x. Standby fees have also been reduced.

The credit facility remains secured by certain company assets, supported by guarantees and pledges of shares from certain subsidiaries.

Renaud Adams, President and Chief Executive Officer, said: "The increased size, extended maturity and improved pricing strengthen our financial position, lowers our cost of capital, and provides meaningful flexibility as we advance our operating portfolio and execute on internal growth opportunities."

National Bank of Canada acted as administrative agent, with National Bank Capital Markets and RBC Capital Markets serving as Co-Lead Arrangers and Joint Bookrunners.