Kinross Completes US$250 Million Bought Deal Financing
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Kinross Gold Corporation has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and Scotiabank for a bought deal public equity offering for gross proceeds of approximately US$250 million.
The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 percent of the offering to cover over-allotments, if any.
The company intends to use the net proceeds of the offering to strengthen its balance sheet and improve the long-term liquidity position of the company by using approximately US$175 million of the net proceeds to repay the credit facilities that were utilized to purchase assets from Barrick Gold Corporation. The remainder of the proceeds will be used to repay debt maturing in 2016 and for general corporate purposes.
About Kinross Gold Corporation
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia.
To stop by Kinross’ website, CLICK HERE
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