Golden Star launches $125 million five-year convertibles, talked at 3.5%-4% coupon, up 32.5%-37.5%

By Evan Weinberger

New York, Oct. 23 - Golden Star Resources Ltd. launched $125 million in convertible senior unsecured debentures due Nov. 30, 2012. The debentures are talked at a coupon of 3.5% to 4% and an initial conversion premium of 32.5% to 37.5%.

BMO Capital Markets is the bookrunner of the Rule 144A transaction. The debentures are also being offered in Canada on a private placement basis subject to Regulation S.

The debentures have call protection for life.

Golden Star is a Littleton, Colo.-based gold mining firm. The company plans to use the proceeds to repay its existing $50 million in 6.85% senior convertible notes due April 15, 2009 and the balance for property development and for general corporate purposes.

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