Endeavour Mining launches $500 million offering of five-year notes

Chicago, Oct. 1 – Endeavour Mining plc launched an offering for $500 million of senior notes due 2026 (BB-/BB), according to a press release.

Proceeds will be used to repay all amounts under the group’s $370 million bridge term loan facility. The bridge loan had been used to retire higher cost debt facilities acquired upon the acquisition of Teranga Gold Corp. Proceeds will also be used to repay $130 million on the group’s revolving loan.

The company is also getting a new $500 million four-year revolving credit facility which is conditioned on the closing of the notes offering.

Endeavour Mining is a London-based intermediate gold producer focused on developing gold mines in West Africa with a registered office in George Town, Cayman Islands.

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