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Minefinders exchange new notes for $32.94 million 4.5% convertibles
By Susanna Moon
Chicago, Nov. 3 - Minefinders Corp. Ltd. said it purchased $32,941,000 principal amount of its 4.5% convertible senior notes due Dec. 15, 2011 from two holders of the notes.
In exchange, the company issued $36,235,000 of new 4.5% convertible senior notes due Dec. 15, 2015.
After the purchase, there is $52,059,000 of the original $85,000,000 principal amount of the notes outstanding.
The $32,941,000 principal amount of notes was convertible into 3,027,667 common shares. The $36,235,000 principal amount of new notes issued is convertible into 3,027,152 common shares.
Scotia Capital Inc. was the company's financial adviser.
Minefinders is a Vancouver, B.C.-based precious metals exploration company.
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