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Prospect News home > News index > List of issuers K > Headlines for Kinross Gold Corp. > News item |
Kinross Gold holders put $454.57 million of 1.75% convertible notes
By Marisa Wong
Madison, Wis., March 14 - Kinross Gold Corp. said that holders of $454,571,000 of its 1.75% convertible senior notes due 2028 exercised their put option. The deadline for holders to withdraw puts was 5 p.m. ET on March 13.
The put notes will be repurchased on March 15 at par plus accrued interest up to but excluding the repurchase date. The company will pay the repurchase price solely in cash.
The company said it intends to redeem all of the notes that will remain outstanding following the repurchase. The company will redeem the remaining notes on or around April 30 at par plus accrued interest to the redemption date.
The company estimates that the total redemption price for the $5,429,000 of outstanding notes will be $5,440,876.
Kinross is a Toronto-based gold mining company.
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