By Paul A. Harris
Portland, Ore., May 27 - Trevali Mining Corp. priced a C$52.5 million issue of units comprised of C$1,000 of 12½% senior secured noted due 2019 and 123.2 warrants for commons shares of the company's stock.
The reoffer price was 98.
GMP Securities was the lead bookrunner for the deal that was marketed as a Canadian private placement.
Proceeds will be used to refinance the RMB Resources limited bridge facility due June 30, 2014, to fund Trevali's asset build-out of the Caribou Mine and Mill in New Brunswick, to repay Trevali's US$2 million of convertible notes and for general corporate purposes.
The issuer is a Vancouver B.C.-based zinc-focused base metals mining company with operations in Peru and Canada.
| Issuer: | Trevali Mining Corp.
|
| Face amount: | C$52.5 million
|
| Proceeds: | C$51.45 million
|
| Securities: | 52,000 units comprised of C$1,000 senior secured notes due 2019 and 123.2 warrants to purchase common shares at an exercise price of $1.26
|
| Maturity: | May 30, 2019
|
| Coupon: | 12½%
|
| Price: | 98
|
| Call protection: | Four years
|
| Lead bookrunner: | GMP Securities
|
| Settlement date: | May 30
|
| Distribution: | Canadian private placement
|
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