Iamgold gets early tenders for $145.7 million of 6¾% notes due 2020

By Susanna Moon

Chicago, Aug. 22 – Iamgold Corp. said investors had tendered $145,702,000 principal amount, or 23%, of its $635 million outstanding 6¾% senior notes due 2020.

The update is as of as of 5 p.m. ET on Aug. 19, the early tender date, according to a company notice.

As announced Aug. 8, Iamgold is tendering for up to $150 million principal amount of the notes until midnight ET on Sept. 2.

Tendered notes may no longer be withdrawn, as of the early deadline.

The total purchase price will be $970 per $1,000 principal amount of notes tendered by the early deadline, which includes a $30 early tender premium per $1,000 of notes.

Holders who tender after the early deadline will receive the base tender payment of $940 per $1,000 principal amount, or the total amount less the early premium.

The company will also pay accrued interest up to but excluding the settlement date, which will be Aug. 22 for early tenders and Sept. 6 for all other tenders.

If the amount of notes tendered in the offer exceeds the cap, then the company will accept notes on a pro rata basis.

The tender offer is not conditioned on a minimum amount of tenders but is conditioned on completion of an equity offering.

The dealer manager is Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106). The information and tender agent is Global Bondholder Services Corp. (212 430-3774, 866 470-4500 or info@gbsc-usa.com).

Iamgold is a gold mining company based in Toronto.

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