By Sheri Kasprzak
New York, Dec. 21 - Crew Gold Corp. said it has completed a second tranche of its previously announced convertible bond offering for NOK 330 million.
The 6% bonds are convertible into common shares at NOK 11 each.
The bonds mature in five years.
The company settled the first tranche of the deal for NOK 990 million on Dec. 2.
Proceeds from the offering will be used to finance a portion of the company's acquisition of Guinor. Under the acquisition terms, Crew will buy all of Guinor's outstanding shares at C$1.50 each.
Based in London, Crew is a gold exploration company.
| Issuer: | Crew Gold Corp.
|
| Issue: | Convertible bonds
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| Amount: | NOK 330 million
|
| Maturity: | Five years
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Conversion price: | NOK 11
|
| Warrants: | No
|
| Settlement date: | Dec. 21
|
| Stock price: | NOK 9.15 at close Dec. 20
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