New Issue: Agnico-Eagle $125 million convertibles yield 4.5%, up 14.75%

By Ronda Fears

Nashville, Tenn., Jan. 30 - Agnico-Eagle Mines Ltd. sold $125 million of 10-year convertible unsecured subordinated debentures at par to yield 4.5% and with a 14.75% initial conversion premium via lead manager Scotia Capital Markets.

The Toronto-based gold mining company said proceeds from the Rule 144A offering would be used to redeem in full its convertible notes due 2004 and the balance for general corporate purposes, which may include temporary repayment of its bank facility.

Terms of the new deal are:

Issuer: Agnico-Eagle Mines Ltd.

Amount: $125 million

Greenshoe: $18.75 million

Lead Manager: Scotia Capital Markets

Maturity Date: Feb. 15, 2012

Coupon: 4.5%

Issue Price: par

Yield: 4.5%

Conversion Premium: 14.75%

Conversion Price: $14.00

Conversion Ratio: 7.1429

Call: non-callable for four years

Settlement Date: Feb. 15

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