By Abigail W. Adams
Portland, Me., Sept. 18 – Equinox Gold Corp. priced $150 million of five-year convertible notes after the market close on Monday at par with a coupon of 4.75% and an initial conversion premium of 20%, according to a market source and a company news release.
BMO Capital Markets led the bought deal which will be marketed via Rule 144A and Regulation S.
The offering carries a greenshoe of $22.5 million.
The notes are non-callable for three years and then subject to a 130% hurdle.
They are putable upon a fundamental change.
Proceeds will be used to repay debt and for general corporate purposes.
Equinox Gold is a Vancouver, B.C.-based mining company.
| Issuer: | Equinox Gold Corp.
|
| Amount: | $150 million
|
| Greenshoe: | $22.5 million
|
| Issue: | Convertible senior notes
|
| Maturity: | Oct. 15, 2028
|
| Bookrunner: | BMO Capital Markets
|
| Coupon: | 4.75%
|
| Price: | Par
|
| Yield: | 4.75%
|
| Conversion premium: | 20%
|
| Conversion price: | $6.30
|
| Conversion rate: | 158.7302
|
| Call options: | Non-callable for three years and then subject to a 130% hurdle
|
| Put options: | Upon a fundamental change
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 21
|
| Distribution: | Rule 144A and Regulation S
|
| Stock symbol: | NYSE: EQX
|
| Stock price: | $5.24 at market close Sept. 18
|
| Market capitalization: | $1.64 billion
|
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