23 April 2026
PLS is pleased to announce the closing of its offering of US$600M 6.875% Senior Notes due 2031 (the Notes).
The debut offering of the Notes represents an important financing milestone for PLS and aligns the Company’s funding sources with the scale and long-term nature of its operations, providing PLS with further depth and flexibility of funding.
As announced by PLS on 16 April 2026, a portion of the net cash proceeds of the Notes offering has been used to refinance the A$375M drawn balance of the Company’s revolving credit facility (RCF) and the size of the RCF has been reduced from A$1B to A$500M. The remaining net cash proceeds of the Notes offering will be used for general corporate purposes. PLS’ revised debt capital structure following completion of the Notes offering provides PLS with significant flexibility for future capital allocation in accordance with the Company’s capital management framework and dividend policy.
PLS Managing Director and CEO, Dale Henderson, said:
“The successful completion of our inaugural US bond offering marks an important milestone for PLS and reflects the strength of our business, balance sheet and the scale and maturity we have achieved as a global lithium producer.
“The Notes have enabled us to repay the drawn portion of our revolving credit facility (RCF) and extend the maturity profile of our debt, while maintaining strong liquidity through a resized RCF. Together, these changes strengthen our balance sheet and provide a more flexible and resilient capital structure.
“This positions PLS to continue executing our strategy with disciplined capital allocation, including advancing our production growth options such as the P2000 Project at Pilgangoora and the Colina Project in Brazil, both currently progressing through feasibility studies and optimisation. Final investment decisions on these projects remain subject to study outcomes, market conditions, funding and Board approval.”
ASX announcement