Chicago, Aug. 4 – Gran Colombia Gold Corp. sold a $300 million offering of 6 7/8% five-year senior notes (B+/B+) on Wednesday, according to a press release.
The notes had been talked in the low 7% area as a crossover deal for emerging markets and high-yield accounts.
The deal size could not grow.
BofA Securities, Inc., Canaccord Genuity Corp. and Morgan Stanley & Co. LLC are the bookrunners.
The Rule 144A and Regulation S notes come with two years of call protection.
The gold producer, which is headquartered in Toronto, plans to use the proceeds to fund the development of Guyana operations, prepay its gold-linked notes, and for general corporate purposes.
| Issuer: | Gran Colombia Gold Corp.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | 2026
|
| Bookrunners: | BofA Securities, Inc., Canaccord Genuity Corp. and Morgan Stanley & Co. LLC
|
| Coupon: | 6 7/8%
|
| Price: | 99.48
|
| Yield: | 7%
|
| Call protection: | Two years
|
| Trade date: | Aug. 4
|
| Settlement date: | Aug. 9
|
| Ratings: | S&P: B+
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Low 7% area
|
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