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Alamos Gold redeems $315 million 7¾% notes due 2020 at 103.875
By Marisa Wong
Morgantown, W.Va., April 3 – Alamos Gold Inc. said it redeemed its outstanding $315 million 7¾% senior secured second-lien notes due 2020.
The notes were redeemed at 103.875 plus accrued interest to the redemption date.
The company used $239 million of proceeds from an equity financing completed in February along with existing cash to retire the 7¾% notes.
The redemption will result in annual interest savings of $24.4 million, the company said in a news release.
Alamos is an intermediate gold producer based in Toronto.
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