By Devika Patel
Knoxville, Tenn., March 7 - Vista Gold Corp. said it took in $30 million from a private placement of senior convertible notes. The deal priced Feb. 12 for $32 million.
The notes mature in three years and carry a 10% coupon, calculated and payable semiannually. They may be converted into common shares at $6.00 per share.
The company can prepay the outstanding principal and accrued interest at any time after one year, upon payment of one year's additional interest.
The agent was paid $1.2 million and also received 200,000 warrants, exercisable at $6.00 for three years.
Proceeds will be used to finance the previously announced purchase of gold processing equipment to be used at the company's Paredones Amarillos gold project and to fund operations at the Paredones Amarillos gold project.
Based in Denver, Vista is a gold exploration company.
| Issuer: | Vista Gold Corp.
|
| Issue: | Senior convertible notes
|
| Amount: | $30 million
|
| Maturity: | Three years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $6.00
|
| Warrants: | No
|
| Fees: | $1.2 million, 200,000 warrants
|
| Pricing date: | Feb. 12
|
| Settlement date: | March 7
|
| Stock symbol: | Amex: VGZ
|
| Stock price: | $4.85 at close March 6
|
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