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Iamgold starts roadshow for $500 million eight-year senior notes
By Paul A. Harris
Portland, Ore., March 6 – Iamgold Corp. started a roadshow on Monday for a $500 million offering of eight-year senior notes, according to a syndicate source.
The roadshow wraps up on Wednesday, and the Rule 144A and Regulation S for life notes are set to price thereafter.
Citigroup Global Markets Inc. is the left bookrunner. Morgan Stanley & Co., Deutsche Bank Securities Inc., National Bank of Canada Financial and RBC Capital Markets LLC are the joint bookrunners. TD Securities is the co-manager.
The notes feature a make-whole call at Treasuries plus 50 bps for the first three years, then become callable at par plus 75% of the coupon. They also feature a three-year 40% equity clawback and a 101% poison put.
The Toronto-based gold-mining company plans to use the proceeds to repay its existing 6¾% senior notes.
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