Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt Disclosure

DEBT

	March 31, 2022				December 31, 2021
In thousands	Current		Non-Current		Current		Non-Current
2029 Senior Notes, net(1)	$	—	$	368,508	$	—	$	368,273
Revolving Credit Facility(2)	—		55,000		—		65,000
Finance lease obligations	29,620		32,360		29,821		24,407
	$	29,620	$	455,868	$	29,821	$	457,680

(1) Net of unamortized debt issuance costs of $6.5 million and $6.7 million at March 31, 2022 and December 31, 2021, respectively.

(2) Unamortized debt issuance costs of $2.2 million and $2.4 million at March 31, 2022 and December 31, 2021, respectively, included in Other Non-Current Assets.

2029 Senior Notes

In March 2021, the Company completed an offering of $375.0 million in aggregate principal amount of senior notes in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for net proceeds of approximately $367.5 million (the “2029 Senior Notes”). For more details, please see Note 8 -- Debt contained in the 2021 10-K.

Revolving Credit Facility

At March 31, 2022, the Company had $215.0 million available under its $300.0 million revolving credit facility (the “RCF”) provided pursuant to the credit agreement entered into in September 2017 (as amended, the “Credit Agreement”) among the Company, as borrower, and certain subsidiaries of the Company, as guarantors, and Bank of America, N.A, as administrative agent (the “Agent”), and Bank of America, N.A., Royal Bank of Canada, Bank of Montreal, Chicago Branch, the Bank of Nova Scotia and ING Capital LLC (the “RCF Lenders”). At March 31, 2022, the Company had $55.0 million drawn at an interest rate of 2.7% and $30.0 million in outstanding letters of credit under the RCF.

On May 2, 2022, the Company entered into an amendment (the “Amendment”) to the RCF, by and among the Company, certain subsidiaries of the Company, as guarantors, the lenders party thereto and the Agent. The Amendment, among other things, increases the maximum principal amount of the RCF by $90.0 million in incremental loans and commitments to an aggregate of $390.0 million.

Finance Lease Obligations

From time-to-time, the Company acquires mining equipment and facilities under finance lease agreements. In the three months ended March 31, 2022, the Company entered into new lease financing arrangements primarily for mining equipment at Rochester and Kensington. Coeur secured a finance lease package for nearly $60 million in 2021, a portion of which has been funded as of March 31, 2022. The package is earmarked for planned equipment purchases for POA 11 in 2022, and has an interest rate of 5.22%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. See Note 7 -- Leases for additional qualitative and quantitative disclosures related to finance leasing arrangements.

Interest Expense

	Three Months Ended March 31,
In thousands	2022		2021
2024 Senior Notes	$	—	$	2,591
2029 Senior Notes	4,805		1,602
Revolving Credit Facility	1,187		480
Finance lease obligations	1,221		589
Amortization of debt issuance costs	417		404
Other debt obligations	127		57
Capitalized interest	(3,189)		(813)
Total interest expense, net of capitalized interest	$	4,568	$	4,910