By Cristal Cody
Tupelo, Miss., Nov. 29 – Yamana Gold Inc. sold $300 million of 4.625% split-rated 10-year senior notes, (Baa3/BB+/BBB-) on Wednesday, according to a news release.
The notes will be unconditionally guaranteed by certain Yamana subsidiaries that also are guarantors under Yamana’s credit facility.
Proceeds will be used to repay outstanding debt as it comes due and pending such use to repay the outstanding amount on the company’s credit facility.
Yamana Gold is a Toronto-based gold producer.
| Issuer: | Yamana Gold Inc.
|
| Guarantors: | Certain Yamana subsidiaries that also are guarantors under Yamana’s credit facility
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 15, 2027
|
| Coupon: | 4.625%
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody’s: Baa3
|
| S&P: BB+
|
| Fitch: BBB-
|
| Distribution: | Canada
|
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