Coeur d'Alene issues shares for portion of 1.25%, 3.25% convertibles

By Jennifer Chiou

New York, March 11 - Coeur d'Alene Mines Corp. entered into privately negotiated agreements to issue common shares in exchange for $630,000 of its 1.25% convertible senior notes due 2024 and $50,142,000 of its 3.25% convertible senior notes due 2028, according to an 8-K filing with the Securities and Exchange Commission.

The company issued 333,000 shares on March 2, 321,100 shares on March 10 and, on March 26, it will issue a number of shares equal to (a) $39,073,910 divided by (b) the arithmetic mean of the three lowest daily volume-weighted average prices of Coeur d'Alene stock during the 10 consecutive trading days beginning March 15.

The privately negotiated agreements are dated Feb. 28, March 3 and March 10.

In addition, the company said that it intends to pay in common stock all amounts due on March 31 on its $100 million of senior term notes due Dec. 31, 2012.

That said, on April 1, the company expects to issue shares equal to (a) $9,344,444.44 divided by (b) 90% of the arithmetic mean of the four lowest daily volume-weighted average prices of the stock during the 10 trading days prior to March 31.

Amounts may be paid in cash, shares or a combination of the two, according to the filing.

The Bank of New York Mellon is the trustee.

Coeur d'Alene Mines is a silver and gold producer based in Coeur d'Alene, Idaho.

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