SSR Mining talks $200 million 20-year convertible notes to yield 2%-2.5%, up 32.5%-37.5%

By Abigail W. Adams

Portland, Me., March 12 – SSR Mining Inc. plans to price $200 million 20-year convertible notes after the market close on Wednesday with price talk for a coupon of 2% to 2.5% and an initial conversion premium of 32.5% to 37.5%.

BMO Capital Markets Corp. and RBC Capital Markets LLC are joint bookrunners for the Rule 144A and Regulation S offering, which carries a greenshoe of $30 million.

The notes are non-callable for four years, callable until year seven subject to a 130% hurdle and then freely callable.

There are investor puts in year seven, 10 and 15.

There is takeover and dividend protection.

Proceeds will be used to purchase a portion of the company’s 2.875% convertible notes due 2033 and for general corporate purposes.

SSR Mining is a Vancouver, B.C.-based precious metals producer.

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