Kinross announces US$500 million unsecured 10-year notes offering to refinance its outstanding notes due 2024
June 26 2023 - 7:41PM
Kinross Gold Corporation (TSX: K)(NYSE: KGC) announced
today that it has priced an offering of debt securities consisting
of US$500 million aggregate principal amount of 6.250%
senior notes due 2033. The notes will be senior unsecured
obligations of Kinross and will be unconditionally and irrevocably
guaranteed by certain of Kinross’ wholly-owned subsidiaries that
are also guarantors under Kinross’ senior unsecured credit
agreements. The offering is expected to close on July 5, 2023,
subject to customary closing conditions. Kinross intends to use the
net proceeds from the offering to redeem all US$500 million
aggregate principal of its outstanding 5.95% senior notes due 2024
(the “2024 Notes”).
As of the date of this news release, Kinross has
not issued a notice of redemption in respect of the 2024 Notes.
This news release shall not constitute a notice of redemption with
respect to the 2024 Notes.
The offering is being made to “qualified
institutional buyers” pursuant to Rule 144A under the United States
Securities Act of 1933 (the “Act”) and outside the United
States pursuant to Regulation S under the Act. The notes have
not been and will not be registered under the Act and the notes may
not be offered or sold in the United States absent
registration under the Act or the availability of an applicable
exemption from registration requirements. Offers and sales
in Canada will be made only pursuant to exemptions from
the prospectus requirements of applicable Canadian provincial or
territorial securities laws. This news release does not constitute
an offer to sell or the solicitation of an offer to buy any
security.
About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold
mining company with operations and projects in the United States,
Brazil, Mauritania, Chile and Canada. Our focus is on delivering
value based on the core principles of responsible mining,
operational excellence, disciplined growth, and balance sheet
strength. Kinross maintains listings on the Toronto Stock Exchange
(symbol: K) and the New York Stock Exchange (symbol: KGC).
Media Contact Victoria BarringtonSenior
Director, Corporate Communicationsphone:
647-788-4153victoria.barrington@kinross.com
Investor Relations ContactChris Lichtenheldt
Vice-President,
Investor
Relations phone:
416-365-2761 chris.lichtenheldt@kinross.com
Cautionary Statement on Forward-Looking
Information
All statements, other than statements of
historical fact, contained or incorporated by reference in this
news release, including information as to the expected timing of
closing and intended use of proceeds of the offering, and the
redemption of the 2024 Notes, constitute “forward-looking
statements” within the meaning of applicable securities laws,
including the provisions of the Securities Act (Ontario) and the
provisions for “safe harbor” under the United States Private
Securities Litigation Reform Act of 1995 and are based on
expectations, estimates and projections as of the date of this news
release. Forward-looking statements include, without limitation,
expected or possible events, or statements with respect to expected
or possible events. The words, “expects”, “is expected”, or
“intends”, or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would” or
“might” and similar expressions identify forward-looking
statements. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Kinross as of the date of such statements, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Many of these
uncertainties and contingencies can affect, and could cause,
Kinross’ actual results to differ materially from those expressed
or implied in any forward-looking statements made by, or on behalf
of, Kinross. These factors are not intended to represent a complete
list of the factors that could affect Kinross. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. All of the
forward-looking statements made in this news release are qualified
by these cautionary statements and those made in our other filings
with the securities regulators of Canada and the United States
including, but not limited to, the cautionary statements made in
the “Risk Analysis” section of our MD&A for the year ended
December 31, 2022, and the “Risk Factors” set forth in the
Company’s Annual Information Form dated March 31, 2023. Kinross
disclaims any intention or obligation to update or revise any
forward-looking statements or to explain any material difference
between subsequent actual events and such forward-looking
statements whether as a result of new information, future events or
otherwise, except to the extent required by applicable law.
Source: Kinross Gold Corp.
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