By Aleesia Forni
Virginia Beach, June 25 – Yamana Gold Inc. priced $500 million of 4.95% 10-year senior notes with a spread of Treasuries plus 240 basis points on Wednesday, according to a market source.
Pricing was at 99.895 to yield 4.963%.
The notes (Baa3/BB+/BBB-) sold at the tight end of talk.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and RBC Capital Markets LLC were the joint bookrunners.
Proceeds will be used to repay the company’s term loan due June 2016, which was used to partly fund Yamana’s joint acquisition of Osisko Mining Corp.
The notes were sold via Rule 144A and Regulation S.
Yamana is a Toronto-based precious metals mining company.
| Issuer: | Yamana Gold Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | July 15, 2024
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC
|
| Coupon: | 4.95%
|
| Price: | 99.895
|
| Yield: | 4.963%
|
| Spread: | Treasuries plus 240 bps
|
| Trade date: | June 25
|
| Settlement date: | June 30
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor's: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A, Regulation S with registration rights
|
| Price talk: | Treasuries plus 250 bps area, tightened from Treasuries plus 275 bps area
|
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