Mining
Endeavour Mining (TSX: EDV) Launches $500 Million Senior Notes Offering to Refinance Existing Debt
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Highlights
Endeavour Mining plc (LSE: EDV, TSX: EDV, OTCQX: EDVMF), is a West Africa-focused gold producer listed on the London and Toronto Stock Exchanges, with an OTC listing in the U.S. The Company has announced the launch of a $500 million offering of fixed-rate senior notes due in 2030. The new issuance is intended to support the company’s ongoing capital structure management and will be used to refinance existing debt.
According to the company, the proceeds from the offering will be used primarily to repurchase its outstanding $500 million aggregate principal amount of 5.000% senior notes maturing in 2026. The buyback will occur through a concurrent cash tender offer that was launched at the same time as the new note issuance. Endeavour stated that any remaining funds from the offering will be allocated to cover associated fees and expenses arising from the refinancing transactions.
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