Coeur D'Alene $130 million convertible talked at 1.5-2.0%, up 20-24%

By Ronda Fears

Nashville, Jan. 6 - Coeur d'Alene Mines Corp. launched $130 million of 20-year convertible senior notes talked to yield 1.5% to 2.0% with a 20% to 24% initial conversion premium.

Deutsche Bank Securities is sole bookrunner of the registered deal, which is slated to price after the close Wednesday. There is a management call scheduled for 11 a.m. ET Wednesday.

The notes will have a provisional call for seven years with a 150% trigger and a make-whole feature. There are puts in years seven, 10 and 15.

There is a 120% contingent conversion trigger.

Holders will have full dividend protection in the way of a conversion ratio adjustment.

There is a $19.5 million greenshoe available.

The Coeur d'Alene, Idaho-based mining company intends to use proceeds for general corporate purposes, which may include the development of its Kensington gold project and its San Bartolome silver project, each of which are waiting on updated feasibility studies and final construction determinations.

Shares of Coeur d'Alene Mines closed Tuesday off 1 cent, or 0.15%, to $6.66. In after-hours trading, however, the stock was down 34 cents, or 5.11%.

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