By Laura Lutz
Washington, Dec. 22 - OceanaGold Ltd. arranged a A$30 million private placement of 7% convertible notes with Goldman Sachs Asia Finance.
The seven-year notes are convertible into common shares at A$0.86 each.
As previously reported, the company on Tuesday announced a A$70 million placement of 7% seven-year convertible notes. Ospraie Advisors LP and Ospraie Management, LLC purchased A$60 million of the notes, and an affiliate of New Millennium Partners, LP purchased the remaining A$10 million.
Those notes were convertible at A$0.819 per share.
Proceeds will be used for the development of the company's Didipio gold-copper project in Northern Luzon in the Philippines.
Based in Melbourne, Australia, OceanaGold is a gold exploration company.
| Issuer: | OceanaGold Ltd.
|
| Issue: | Convertible notes
|
| Amount: | A$30 million
|
| Maturity: | Seven years
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Conversion price: | A$0.86
|
| Warrants: | No
|
| Investor: | Goldman Sachs Asia Finance
|
| Announcement date: | Dec. 22
|
| Stock symbol: | Australia: OGD
|
| Stock price: | A$0.715 at close Dec. 22
|
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