Hecla Mining redeemed $263 million of its Senior Notes. These notes carried a 7.25% interest rate and were originally due in 2028. The transaction eliminates all long-term debt obligations for the first time in several years.
The company funded the redemption using cash on hand and proceeds from the sale of its Casa Berardi mine in Quebec. Management stated the unencumbered balance sheet increases financial flexibility for strategic growth. Hecla intends to use this position to maximize value from its silver portfolio.