By Aleesia Forni
Virginia Beach, Feb. 27 - Kinross Gold Corp. priced $500 million of 5.95% senior notes (Baa3//BBB-) due 2024 during Thursday's session at 335 basis points over Treasuries, according to an informed source and a company press release.
Pricing was at 99.655 to yield 5.996%.
The sale was done under Rule 144A and Regulation S.
The joint bookrunners were BofA Merrill Lynch, J.P. Morgan Securities LLC, RBC Capital Markets LLC and HSBC Securities.
Proceeds will be used repay a portion of the company's term loan due August 2017.
The mining and gold ore processing company is based in Toronto.
| Issuer: | Kinross Gold Corp.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | 2024
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, RBC Capital Markets LLC, HSBC Securities
|
| Coupon: | 5.95%
|
| Price: | 99.655
|
| Yield: | 5.996%
|
| Spread: | Treasuries pus 335 bps
|
| Trade date: | Feb. 27
|
| Settlement date: | March 6
|
| Ratings: | Moody's: Baa3
|
| Fitch: BBB-
|
| Price talk: | Treasuries plus 340 bps
|
| Distribution: | Rule 144A, Regulation S
|
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