Yamana Announces Pricing of US$500 Million of 10-Year Unsecured Senior Notes
Yamana Gold has priced a $500 million offering of 2.630% Senior Notes due August 15, 2031. The notes are unsecured senior obligations, guaranteed by some subsidiaries. The offering is expected to close on August 6, 2021. Proceeds will fund the redemption of higher-interest Series C, D, B Senior Notes, reducing overall debt and interest costs. This strategy aims to extend debt maturities while improving financial flexibility. The notes have not been registered under U.S. securities laws, limiting their sale in the U.S.
- Successful pricing of $500 million in Senior Notes at a lower interest rate of 2.630%
- Proceeds will be used to redeem higher-interest Series Senior Notes, potentially saving on interest expenses
- Reduction of overall outstanding debt and extension of debt maturities
- None.
TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) (“Yamana” or the “Company”) today announced that it has priced an offering of US
The Senior Notes and the related guarantees have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial or territorial securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security in the United States or in any other jurisdiction.
About Yamana
Yamana is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com
FTI Consulting (UK Public Relations)
Sara Powell / Ben Brewerton
+44 7931 765 223 / +44 203 727 1000
Peel Hunt LLP (Joint UK Corporate Broker)
Ross Allister / David McKeown / Alexander Allen
Telephone: +44 (0) 20 7418 8900
Berenberg (Joint UK Corporate Broker)
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Telephone: +44 (0) 20 3207 7800
Credit Suisse (Joint UK Corporate Broker)
Ben Lawrence / David Nangle
Telephone: +44 (0) 20 7888 8888
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to, information with respect to the expected closing date of the offering and Yamana’s expected use of proceeds from the offering. Forward-looking statements are characterized by words such as “plan", “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include unanticipated changes to the scheduled closing date for the offering, to Yamana’s cash on hand and use of proceeds from the offering, as well as those risk factors discussed or referred to in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available at www.sedar.com, and the Company’s Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s plans, objectives and expectations in connection with the offering, and may not be appropriate for other purposes.
FAQ
What is the purpose of Yamana Gold's $500 million Senior Notes offering?
When is the expected closing date for the Yamana Gold Senior Notes offering?
What interest rate is associated with Yamana Gold's new Senior Notes?
What type of security are the Senior Notes issued by Yamana Gold?
What subsidiaries guarantee the Senior Notes for Yamana Gold?
