By Devika Patel
Knoxville, Tenn., Nov. 19 - Agnico-Eagle Mines Ltd. said it has arranged a $252 million private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at $31.50 per unit.
Each whole warrant will be exercisable at $47.25 for five years.
The deal will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. There is a greenshoe for an additional 1.2 million units.
Proceeds will be used for mine development and related capital expenditures, as well as for general corporate purposes.
Toronto-based Agnico-Eagle is a gold producer.
| Issuer: | Agnico-Eagle Mines Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $252 million
|
| Greenshoe: | $37.8 million (1.2 million units)
|
| Units: | 8 million
|
| Price: | $31.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $47.25
|
| Agent: | Macquarie Capital Markets Canada Ltd. (lead)
|
| Pricing date: | Nov. 19
|
| Stock symbol: | Toronto: AEM
|
| Stock price: | C$37.55 at close Nov. 18
|
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