New Gold Completes Partial Redemption of Outstanding 6.375% Senior Notes
December 24 2020 - 9:11AM
Business Wire
(All dollar figures are in US dollars unless otherwise
indicated)
December 24, 2020– New Gold Inc. (“New Gold” or the
“Company”) (TSX and NYSE American: NGD) today announced that it
has completed the previously announced partial redemption of $200
million aggregate principal amount of its outstanding 6.375% Senior
Notes due 2025. The redemption was funded with cash on hand.
Following the completion of the transaction, the Company has
approximately $205 million of cash on hand1 and $510 million of
liquidity2.
- Based on cash and cash equivalents as at September 30, 2020 of
$416 million less redemption principal, redemption premium, and
accrued interest.
- Approximately $45 million of the $350 million credit facility
is currently used for Letters of Credit related to mine closure
costs.
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. The Company also holds an 8% gold stream
on the Artemis Gold Blackwater project located in British Columbia
and a 6% equity stake in Artemis. 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. For further information on the Company, visit
www.newgold.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201224005161/en/
Anne Day Vice President, Investor Relations Direct: +1 (416) 324
6003 Email: anne.day@newgold.com
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