By Andrea Heisinger
New York, Sept. 9 - Barrick Gold Financeco LLC and Barrick North America Finance LLC priced $1.25 billion of notes in three tranches, according to an FWP filing with the Securities and Exchange Commission.
Full terms were made available Tuesday, with the issue pricing Monday.
Barrick Gold Financeco priced $500 million of 6.125% five-year notes at 99.978 to yield 6.13%, equivalent at pricing to Treasuries plus 315 basis points.
Barrick North America Finance was the issuer for the remaining two tranches.
Barrick sold $500 million of 6.8% 10-year notes priced at 99.769 to yield 6.832%, or Treasuries plus 315 bps.
Barrick also sold $250 million of 7.5% 30-year notes priced at 99.643 to yield 7.53%, or Treasuries plus 325 bps.
All of the tranches have make-whole redemption options of Treasuries plus 50 bps.
Bookrunners were Morgan Stanley & Co., Inc. and J.P. Morgan Securities Inc.
Joint lead managers were Deutsche Bank Securities Inc., RBC Capital Markets, Scotia Capital and UBS Investment Bank.
Senior co-managers were Banc of America Securities LLC, Barclays Capital Inc., BMO Capital Markets, BNP Paribas Securities, CIBC World Markets, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities, Merrill Lynch, Pierce, Fenner & Smith, RBS Greenwich Capital and Societe Generale.
Proceeds will be used to repay amounts owing under a primary bank credit facility, with the balance used for general corporate purposes.
The subsidiaries of Barrick Gold Corp. are based in Toronto.
| Issuer: | Barrick Gold Corp. subsidiaries
|
| Issue: | Notes
|
| Total amount: | $1.25 billion
|
| Bookrunners: | Morgan Stanley & Co., Inc., J.P. Morgan Securities Inc.
|
| Joint lead managers: | Deutsche Bank Securities Inc., RBC Capital Markets, Scotia Capital, UBS Investment Bank
|
| Senior co-managers: | Banc of America Securities LLC, Barclays Capital Inc., BMO Capital Markets, BNP Paribas Securities, CIBC World Markets, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities, Merrill Lynch, Pierce, Fenner & Smith, RBS Greenwich Capital, Societe Generale
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 11
|
|
|
| Five-year notes
|
| Issuer: | Barrick Gold Financeco LLC
|
| Amount: | $500 million
|
| Maturity: | Sept. 13, 2013
|
| Coupon: | 6.125%
|
| Price: | 99.978
|
| Yield: | 6.13%
|
| Spread: | Treasuries plus 315 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
|
|
| 10-year notes
|
| Issuer: | Barrick North America Finance LLC
|
| Amount: | $500 million
|
| Maturity: | Sept. 15, 2018
|
| Coupon: | 6.8%
|
| Price: | 99.769
|
| Yield: | 6.832%
|
| Spread: | Treasuries plus 315 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
|
|
| 30-year notes
|
| Issuer: | Barrick North America Finance LLC
|
| Amount: | $250 million
|
| Maturity: | Sept. 15, 2038
|
| Coupon: | 7.5%
|
| Price: | 99.643
|
| Yield: | 7.53%
|
| Spread: | Treasuries plus 325 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
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