Endeavor Mining driving by with $500 million five-year senior notes; price talk 5½%-5 5/8%

By Paul A. Harris

Portland, Ore., Oct. 7 – Endeavor Mining plc plans to price a $500 million offering of five-year senior notes (expected ratings BB-/BB) in a Thursday drive-by, according to market sources.

Price talk is 5½% to 5 5/8%, tight to early guidance in the high 5% area.

Global coordinator Citigroup will bill and deliver for the Rule 144A and Regulation S offering. HSBC, ING and SG are joint bookrunners. Barclays, BMO and Macquarie are passive bookrunners.

The notes come with two years of call protection.

The George Town, Cayman Islands-based gold mining company has operations principally in Africa.

The company plans to use the proceeds plus balance sheet cash to pay off its bridge loan and revolver.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.