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St Barbara ponders $250m raising

15th March 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner St Barbara reported on Friday that it would look to raise some $250-million through senior secured notes to create financial flexibility and to pursue internal growth opportunities.

The ASX-listed miner said that if the notes were issued, net proceeds would also be used to repay existing borrowings under the company’s A$150-million syndicated debt facility, provide cash collateralisation for the existing A$20-million performance bond facility, and for general corporate purposes.

The proposed offering would be subject to market conditions, and would only be offered to qualified institutional buyers in the US.

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