New Gold Announces Launch of $400 Million Senior Notes Offering to Fund Tender Offer for Outstanding 7.50% Senior Notes
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced the launch of a $400 million Senior Notes offering. The company plans to use the proceeds, along with cash on hand, to purchase all outstanding 7.50% senior notes due 2027 through a tender offer.
The company intends to redeem any remaining 2027 notes at 100% of the principal amount around July 15, 2025. The new Notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, as well as to Canadian investors through private placement.
The tender offer for existing notes is not conditional on any minimum principal amount being tendered, while the Notes offering will not be registered under the U.S. Securities Act.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) ha annunciato il lancio di un offerta di Senior Notes da 400 milioni di dollari. L'azienda prevede di utilizzare i proventi, insieme alla liquidità disponibile, per acquistare tutti i senior notes al 7,50% in scadenza nel 2027 tramite un'offerta pubblica di acquisto.
L'azienda intende riscattare eventuali note rimanenti del 2027 al 100% dell'importo nominale intorno al 15 luglio 2025. Le nuove note saranno offerte esclusivamente a compratori istituzionali qualificati ai sensi della Regola 144A e a persone non statunitensi ai sensi della Regolamentazione S, oltre che a investitori canadesi tramite collocamento privato.
L'offerta pubblica di acquisto per le note esistenti non è condizionata a un importo nominale minimo da presentare, mentre l'offerta delle note non sarà registrata ai sensi del Securities Act degli Stati Uniti.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) ha anunciado el lanzamiento de una oferta de Senior Notes de 400 millones de dólares. La compañía planea utilizar los ingresos, junto con el efectivo disponible, para comprar todas las senior notes al 7,50% con vencimiento en 2027 a través de una oferta pública de adquisición.
La compañía tiene la intención de canjear cualquier nota restante de 2027 al 100% del monto principal alrededor del 15 de julio de 2025. Las nuevas notas se ofrecerán exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S, así como a inversores canadienses a través de una colocación privada.
La oferta pública de adquisición para las notas existentes no está condicionada a un monto principal mínimo que se presente, mientras que la oferta de notas no estará registrada bajo la Ley de Valores de EE. UU.
New Gold Inc. (TSX: NGD) (NYSE American: NGD)는 4억 달러 규모의 시니어 노트 발행을 발표했습니다. 회사는 수익금과 보유 현금을 사용하여 모든 2027년 만기 7.50% 시니어 노트를 공개 매수할 계획입니다.
회사는 2025년 7월 15일 경에 남아 있는 2027년 노트를 원금의 100%로 상환할 예정입니다. 새로운 노트는 144A 규칙에 따라 자격을 갖춘 기관 투자자와 비미국인에게, 그리고 캐나다 투자자에게는 사모 방식으로 독점적으로 제공됩니다.
기존 노트에 대한 공개 매수 제안은 최소 원금 금액이 제출되는 것에 조건되지 않으며, 노트 발행은 미국 증권법에 따라 등록되지 않습니다.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) a annoncé le lancement d'une offre de Senior Notes de 400 millions de dollars. La société prévoit d'utiliser les produits, ainsi que la trésorerie disponible, pour acheter toutes les Senior Notes à 7,50 % arrivant à échéance en 2027 par le biais d'une offre publique d'achat.
La société a l'intention de racheter les notes restantes de 2027 à 100 % du montant principal autour du 15 juillet 2025. Les nouvelles notes seront offertes exclusivement à des acheteurs institutionnels qualifiés en vertu de la règle 144A et à des personnes non américaines en vertu de la réglementation S, ainsi qu'à des investisseurs canadiens par le biais de placements privés.
L'offre publique d'achat pour les notes existantes n'est pas conditionnée à un montant principal minimum à soumettre, tandis que l'offre de notes ne sera pas enregistrée en vertu de la loi américaine sur les valeurs mobilières.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) hat die Einführung eines Senior Notes-Angebots über 400 Millionen Dollar bekannt gegeben. Das Unternehmen plant, die Erlöse zusammen mit verfügbaren Mitteln zu verwenden, um alle 7,50 % Senior Notes mit Fälligkeit 2027 im Rahmen eines Tenderangebots zu erwerben.
Das Unternehmen beabsichtigt, verbleibende 2027 Notes zum 100 % des Nennbetrags etwa am 15. Juli 2025 einzulösen. Die neuen Notes werden ausschließlich an qualifizierte institutionelle Käufer gemäß Regel 144A und an Nicht-US-Personen gemäß Regulation S sowie an kanadische Investoren über private Platzierung angeboten.
Das Tenderangebot für bestehende Notes ist nicht an einen Mindestnennbetrag gebunden, während das Notes-Angebot nicht unter dem US-Wertpapiergesetz registriert wird.
- Refinancing of existing 7.50% notes could potentially lower interest expenses
- No minimum principal requirement for tender offer provides flexibility
- Company has sufficient cash on hand to support the refinancing
- Taking on $400M new debt obligation
- Additional fees and expenses associated with refinancing
- Continued debt burden on balance sheet
Insights
New Gold's announcement of a
This transaction demonstrates proactive liability management by addressing debt obligations well ahead of their 2027 maturity date. The refinancing occurs in a dynamic interest rate environment, though the absence of disclosed terms for the new notes makes it impossible to determine whether this will result in actual interest savings or simply term extension.
From a balance sheet perspective, this move maintains New Gold's debt level while potentially altering its maturity profile and interest expense structure. With a market capitalization of approximately
The successful execution of this refinancing will depend on market reception to the new notes offering, which targets qualified institutional buyers and non-U.S. persons. The transaction structure - using proceeds plus cash on hand - suggests management's confidence in both their ability to place the new notes and the company's liquidity position.
For investors, this represents standard financial management rather than a fundamental change to New Gold's operational outlook or growth strategy. Without knowing the new notes' terms, this appears to be a neutral development focused on liability management rather than a clearly positive or negative indicator of the company's financial trajectory.
(All amounts are in
As also announced today, New Gold has commenced a tender offer (the "Tender Offer") to purchase for cash any and all of the Existing Notes, subject to, among other conditions, the successful completion of the offering of the Notes. The Tender Offer is being made only by and pursuant to the terms and conditions of the related Offer to Purchase. The offering of the Notes is not conditional upon any minimum principal amount of Existing Notes being tendered and purchased in the Tender Offer.
The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to non-
The offer and sale of the Notes will not be registered under the Securities Act and the Notes may not be offered or sold in
About New Gold
New Gold is a Canadian-focused intermediate mining Company with a portfolio of two core producing assets in
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and
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SOURCE New Gold Inc.
FAQ
What is the size of New Gold's (NGD) new Senior Notes offering in 2025?
How will New Gold (NGD) use the proceeds from its 2025 Senior Notes offering?
When does New Gold (NGD) plan to redeem remaining 2027 notes?
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