Coeur Mining, Inc. Prices New Senior Notes
May 19 2017 - 2:44PM
Business Wire
Coeur Mining, Inc. (the “Company” or “Coeur”) (NYSE: CDE) today
announced the pricing of its offering (the “Offering”) of U.S.
$250,000,000 of 5.875% Senior Notes due 2024 (the “Notes”) to
qualified institutional buyers in the United States pursuant to
Rule 144A and outside the United States pursuant to Regulation S
under the Securities Act of 1933, as amended (the “Securities
Act”). The coupon of the Notes will be 5.875% per year from the
date of issuance, payable semi-annually in arrears. The Notes will
mature on June 1, 2024. The Offering is expected to close on or
about May 31, 2017, subject to the satisfaction of various
customary closing conditions.
The Notes will be fully and unconditionally guaranteed by
certain of the Company’s subsidiaries. The Company intends to use
the net proceeds from the Offering to pay the purchase price and
tender premium for up to all $178.0 million aggregate principal
amount of its 7.875% Senior Notes due 2021 (the “2021 Notes”) that
are validly tendered (and not validly withdrawn) by holders and
accepted by the Company in connection with the cash tender offer
that it commenced on May 19, 2017 (the “Concurrent Tender Offer”),
to pay the redemption price to redeem any of the 2021 Notes that
are not so tendered in the Concurrent Tender Offer and to pay the
fees and expenses in connection with the Offering, the Concurrent
Tender Offer and any redemption of the 2021 Notes. To the extent
that the Company has excess proceeds from the Offering, the Company
intends to use such excess amounts for general corporate
purposes.
The Notes have not been registered under the Securities Act or
any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and applicable
state laws. Upon the closing of the offering of the Notes, the
Company, the guarantors of the Notes and the initial purchaser will
enter into a registration rights agreement pursuant to which the
Company and the guarantors will agree to file a registration
statement with respect to an offer to exchange the Notes for a new
issue of Notes of the same series registered under the Securities
Act.
This news release shall not constitute an offer to sell or a
solicitation of an offer to purchase the Notes or any other
securities, and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful. This news release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements or
information within the meaning of securities legislation in the
United States and Canada, including, among others, (i) Coeur’s
expectations regarding the closing of the Offering and (ii) Coeur’s
intention to use the proceeds of the Offering to repurchase the
2021 Notes that are validly tendered (and not validly withdrawn) by
holders and accepted by the Company, to pay the redemption price to
redeem any of the 2021 Notes that are not so tendered, to pay
related fees and expenses in connection with the Offering, and to
the extent the Company has excess proceeds from the Offering, for
general corporate purposes. These forward-looking statements and
information reflect Coeur’s current views with respect to future
events and are necessarily based upon a number of assumptions that,
while considered reasonable, are inherently subject to significant
operational, business, economic, market and regulatory
uncertainties and contingencies. These assumptions include the
timing and success of the Offering, the tender offer and the
satisfaction of customary closing conditions in a timely manner or
at all. The foregoing list of assumptions is not exhaustive. Such
forward-looking statements and information also involve known and
unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements or
information. Such factors include, among others, the uncertainties
and risk factors set out in filings made from time to time with the
SEC, and the Canadian Securities regulators, including, without
limitation, Coeur’s most recent reports on Form 10-K and Form 10-Q.
Actual results, developments and timetables could vary
significantly from the estimates presented. Readers are cautioned
not to put undue reliance on forward-looking statements or
information. Coeur disclaims any intent or obligation to update
publicly such forward-looking statements or information, whether as
a result of new information, future events or otherwise, except to
the extent required by applicable law. Additionally, Coeur
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of the content of this
news release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170519005661/en/
Coeur Mining, Inc.104 S. Michigan Avenue, Suite 900Chicago,
Illinois 60603Attention: Courtney Lynn, Vice President, Investor
Relations and TreasurerPhone: (312) 489-5800
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