Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt Disclosure

DEBT

	June 30, 2022				December 31, 2021
In thousands	Current		Non-Current		Current		Non-Current
2029 Senior Notes, net(1)	$	—	$	368,742	$	—	$	368,273
Revolving Credit Facility(2)	—		115,000		—		65,000
Finance lease obligations	28,670		35,088		29,821		24,407
	$	28,670	$	518,830	$	29,821	$	457,680

(1) Net of unamortized debt issuance costs of $6.3 million and $6.7 million at June 30, 2022 and December 31, 2021, respectively.

(2) Unamortized debt issuance costs of $3.3 million and $2.4 million at June 30, 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

On May 2, 2022, the Company entered into an amendment (the “Amendment”) to the revolving credit facility (the “RCF”), dated as of September 29, 2017 (as amended, the “Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, 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, ING Capital LLC and Goldman Sachs Bank USA (the “RCF Lenders”). The Amendment, among other things, increased the maximum principal amount of the RCF by $90.0 million in incremental loans and commitments to an aggregate amount of $390.0 million.

At June 30, 2022, the Company had $115.0 million drawn at an interest rate of 3.8% and $30.5 million in outstanding letters of credit under the RCF.

Finance Lease Obligations

From time-to-time, the Company acquires mining equipment and facilities under finance lease agreements. In the six months ended June 30, 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 $60.0 million in 2021, a portion of which has been funded as of June 30, 2022. The package is earmarked for planned equipment purchases for Rochester’s Plan of Operation Amendment 11 (“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 June 30,				Six Months Ended June 30,
In thousands	2022		2021		2022		2021
2024 Senior Notes	$	—	$	—	$	—	$	2,591
2029 Senior Notes	4,804		4,804		9,609		6,406
Revolving Credit Facility	1,370		450		2,557		930
Finance lease obligations	1,354		1,018		2,576		1,607
Amortization of debt issuance costs	496		487		913		891
Other debt obligations	31		118		132		175
Capitalized interest	(2,885)		(1,784)		(6,049)		(2,597)
Total interest expense, net of capitalized interest	$	5,170	$	5,093	$	9,738	$	10,003