Eldorado Gold sets roadshow for $300 million five-year notes

By Paul A. Harris

Portland, Ore., May 13 – Eldorado Gold Corp. plans to begin a roadshow on Tuesday for a $300 million offering of five-year senior secured second-lien notes, according to market sources.

Initial talk has the deal coming to yield in the high 8% to 9% area, a trader said.

An investor meeting in New York and an investor conference call are scheduled to get underway at 12:30 p.m. ET on Tuesday.

The roadshow wraps up on Friday.

BofA Merrill Lynch is the left bookrunner for the Rule 144A and Regulation S for life offering. BMO Securities, HSBC Securities, NBC Financial Markets and BNP Paribas are the joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon and feature a 101% poison put.

The Vancouver, B.C.-based gold mining company plans to use the proceeds, together with borrowings under its senior credit facility and cash on hand, to redeem its outstanding $600 million of 6 1/8% senior notes due 2020.

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