By Sheri Kasprzak
New York, Dec. 19 - OceanaGold Ltd. has completed a private placement of convertible notes for A$70 million.
Ospraie Advisors LP and Ospraie Management, LLC purchased A$60 million of the seven-year notes, and an affiliate of New Millennium Partners, LP purchased the remaining A$10 million.
The 7% notes are convertible into common shares at A$0.819 each.
Proceeds will be used for the development of the company's Didipio gold-copper project in Northern Luzon in the Philippines.
Separately, OceanaGold received a NZ$45 million non-recourse project debt facility from Commonwealth Bank ANZ and Societe Generale. The company may draw from the facility through Dec. 31, 2007.
Based in Melbourne, Australia, OceanaGold is a gold exploration company.
Issuer: | OceanaGold Ltd.
|
Issue: | Convertible notes
|
Amount: | A$70 million
|
Maturity: | Seven years
|
Coupon: | 7%
|
Price: | Par
|
Yield: | 7%
|
Conversion price: | A$0.819
|
Warrants: | No
|
Investors: | Ospraie Advisors LP, Ospraie Management, LLC, New Millennium Partners, LP
|
Settlement date: | Dec. 19
|
Stock symbol: | Australia: OGD
|
Stock price: | A$0.69 at close Dec. 19
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.