https://www.engineeringnews.co.za

Iamgold launches $500m senior notes offering

3rd March 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

TORONTO (miningweekly.com) – Canadian midtier miner Iamgold has launched a $500-million senior notes offering due 2025, which it will use in combination with cash on hand to redeem its outstanding 6.75% senior notes due in 2020.

Under the terms of the indenture governing the existing notes, Iamgold will issue a conditional notice of redemption to redeem all the outstanding existing notes, pending the successful completion of the notes offering.

Iamgold’s balance sheet is strong, ending 2016 with about $750-million in cash, cash equivalents and restricted cash, which exceeds the $489-million of bonds that are due in October 2020.

The company expects to increase its output by between 4% and 9% year-on-year, to between 845 000 oz and 885 000 oz of gold, in 2017, with all-in sustaining costs estimated at between $1 000/oz and $1 080/oz.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

Showroom

Trotech
Trotech

Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.998s - 140pq - 2rq
Subscribe Now