New Gold Announces Pricing of $400 million Senior Notes Offering to Fund Redemption of Outstanding 6.25% Senior Notes
June 10 2020 - 5:51PM
Business Wire
(All dollar figures are in US dollars unless
otherwise indicated)
June 10, 2020 - New Gold Inc. ("New Gold" or the “Company”)
(TSX and NYSE American: NGD) today announces the pricing of its
offering of $400 million aggregate principal amount of 7.50% Senior
Notes due 2027 (the "Notes"). The offering is expected to close on
or about June 24, 2020. New Gold intends to use the net proceeds
from the offering of the Notes, together with cash on hand, to fund
the redemption of its outstanding 6.25% Senior Notes due 2022 (the
"Existing Notes"), and to pay related fees and expenses.
Pursuant to the terms of the indenture governing the Existing
Notes, New Gold has issued a conditional notice of redemption to
redeem the outstanding Existing Notes, which redemption will be
conditional upon the successful completion of the offering of the
Notes.
The Notes will be offered and sold in the United States only to
persons reasonably believed to be qualified institutional buyers in
accordance with Rule 144A under the United States Securities Act of
1933, as amended (the "Securities Act"), and to non-U.S. persons
outside the United States in reliance on Regulation S under the
Securities Act. The Notes will be offered and sold in Canada on a
private placement basis pursuant to certain prospectus
exemptions.
The offer and sale of the Notes will not be registered under the
Securities Act and the Notes may not be offered or sold in the
United States or to U.S. persons absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy the Notes, nor shall there be any offer or sale
of the Notes in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About New Gold Inc. New Gold is a Canadian-focused
intermediate gold mining company with a portfolio of two core
producing assets in Canada, the Rainy River and New Afton Mines as
well as the 100% owned Blackwater development project. The Company
also operates the Cerro San Pedro Mine in Mexico (in reclamation).
New Gold’s vision is to build a leading diversified intermediate
gold company based in Canada that is committed to environment and
social responsibility.
Cautionary Note Regarding Forward-Looking Statements This
news release contains “forward-looking statements” and
“forward-looking information” within the meaning of applicable
Canadian and U.S. securities legislation. All statements, other
than of historical fact, that address activities, events or
developments that New Gold believes, expects or anticipates will or
may occur in the future are forward-looking statements, including
the completion and timing of this offering and the intended use of
proceeds from this offering to redeem the Existing Notes.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from those expressed or implied by such
forward-looking statements. Although New Gold has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. New Gold does not undertake
to update any forward-looking statements, except in accordance with
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20200610005880/en/
Anne Day Vice President, Investor Relations Direct: +1
(416) 324-6003 Email: anne.day@newgold.com
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