Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt Disclosure

DEBT

	March 31, 2023				December 31, 2022
In thousands	Current		Non-Current		Current		Non-Current
2029 Senior Notes, net(1)	$	9,405	$	360,041	$	—	$	369,212
Revolving Credit Facility(2)	—		60,000		—		80,000
Finance lease obligations	22,634		42,006		24,578		42,143
	$	32,039	$	462,047	$	24,578	$	491,355

(1) Net of unamortized debt issuance costs of $5.6 million and $5.8 million at March 31, 2023 and December 31, 2022, respectively.

(2) Unamortized debt issuance costs of $3.2 million and $3.6 million at March 31, 2023 and December 31, 2022, 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 5.125% senior notes due 2029 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 10 -- Debt contained in the 2022 10-K.

In April 2023, the Company exchanged $9.5 million in aggregate principal amount plus accrued interest of 2029 Senior Notes for 2,155,141 shares of common stock.

Revolving Credit Facility

At March 31, 2023, the Company had $60.0 million drawn at an interest rate of 8.3%, $29.5 million in outstanding letters of credit and $300.5 million available under its $390 million revolving credit facility (the “RCF”). Future borrowing may be subject to certain financial covenants. For more details, please see Note 10 -- Debt contained in the 2022 10-K.

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, 2023, the Company entered into a new lease financing arrangement for mining equipment at Rochester. Additionally, Coeur secured a finance lease package for nearly $60.0 million in 2021, of which $57.4 million has been funded as of March 31, 2023. This package is earmarked for planned equipment purchases for the Rochester expansion project in 2021, 2022 and 2023 and has an interest rate of 5.2%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. For more details, please see Note 9 -- Leases contained in the 2022 10-K.

Interest Expense

	Three Months Ended March 31,
In thousands	2023		2022
2029 Senior Notes	$	4,805	$	4,805
Revolving Credit Facility	2,746		1,187
Finance lease obligations	1,280		1,221
Amortization of debt issuance costs	640		417
Other debt obligations	27		127
Capitalized interest	(2,109)		(3,189)
Total interest expense, net of capitalized interest	$	7,389	$	4,568