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Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Hecla launches cash tender offer for 6 7/8% senior notes due 2021
By Marisa Wong
Morgantown, W.Va., June 28 – Hecla Mining Co. said it has begun a cash tender offer to purchase any and all of its 6 7/8% senior notes due 2021.
There is $506.5 million aggregate principal amount of the notes outstanding, according to a press release.
The tender offer is scheduled to expire at 5 p.m. ET on July 6. Tenders may be withdrawn at any time before then.
Holders will receive $1,038.13 per $1,000 principal amount of notes tendered and accepted for purchase in the offer, along with accrued interest to but excluding, the settlement date, which is expected to be July 7.
The offer is subject to a financing condition.
The company said it intends to redeem any notes that remain outstanding after the tender offer.
BofA Merrill Lynch (980 387-5602 and 888 292-0070) is the dealer manager. Global Bondholder Services Corp. (866 807-2200 or contact@gbsc-usa.com) is the information agent and tender agent.
Hecla is a Coeur d’Alene, Idaho-based silver producer with operating mines in Alaska, Idaho and Mexico and is a growing gold producer with an operating mine in Quebec.
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