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Yamana to raise $500m for debt restructuring

5th August 2021

By: Creamer Media Reporter

     

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Precious metals miner Yamana Gold will raise $500-million in a notes offering to restructure its debt.

The TSX-, NYSE- and LSE-listed company on Wednesday priced an offering of 2.63% senior notes due August 2031.

The net proceeds from the offering, together with cash on hand, will be used to fund the redemptions of its 4.76% series C senior notes due 2022, its 4.91% series D senior notes due 2024, its 4.78% series B senior notes due 2023 and its 4.950% senior notes due 2024.

Yamana said this would reduce the overall outstanding debt, lower overall interest and carrying charges on outstanding debt, as well as extend outstanding debt maturities.

 

Edited by Creamer Media Reporter

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