AuRico gets tenders of 1.7% of 3.5% convertibles after asset purchase

By Susanna Moon

Chicago, Dec. 23 - AuRico Gold Inc. said holders tendered $3 million, or about 1.7%, of its 3.5% convertible senior notes due 2016 in the offer to purchase the notes due to a fundamental change.

The purchase price was $1,008.069 for each $1,000 principal amount of convertibles tendered by 5 p.m. ET on Dec. 21, the expiration date, according to a company press release.

As previously noted, the company paid par in cash plus accrued interest on Dec. 23.

After settlement, $167 million principal amount of the convertibles remains outstanding.

AuRico said on Nov. 23 that it notified holders of the offer due the company's AuRico acquisition of Northgate Minerals Corp. in October. Northgate's 3.5% convertibles became convertible into AuRico shares.

As reported, AuRico agreed on Aug. 29 to acquire all of the outstanding shares of Northgate. Shareholders received 0.365 of an AuRico common share for each common share of Northgate.

Bank of New York Mellon is the depositary, tender agent and paying agent (attn: David Mauer at 212 815-3687).

AuRico is a precious metals producer based in Toronto.

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