Eldorado Gold to redeem 9½% second-lien notes due 2024 on Sept. 9

By Rebecca Melvin

Concord, N.H., Sept. 7 – Eldorado Gold Corp. plans to redeem its outstanding $234 million of 9½% senior secured second-lien notes due June 2024 on Sept. 9, according to a 6-K filing with the Securities and Exchange Commission.

The redemption is being funded with the proceeds from a new $500 million offering of 6¼% senior notes due 2029 completed on Aug. 26.

The company is also repaying all amounts outstanding under its existing term loan facility and revolving credit facility with proceeds from the new notes. And funds will also be used for general corporate purposes.

Eldorado Gold is a Vancouver, B.C.-based gold producer.

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