By Lisa Kerner
Charlotte, N.C., Dec. 22 - Yamana Gold Inc. closed a $270 million senior debt securities offering, consisting of unsecured fixed-coupon notes with a weighted average maturity of approximately nine years and a coupon of 6.75%.
Bank of America Merrill Lynch and RBS Securities Inc. arranged the private term debt offering, according to a Yamana news release.
Yamana said proceeds will be used to repay its existing term loan and reduce outstanding amounts under the Toronto-based precious metals mining company's revolving line of credit.
| Issuer: | Yamana Gold Inc.
|
| Issue: | Senior debt securities
|
| Amount: | $270 million
|
| Maturity: | Weighted average of nine years
|
| Coupon: | 6.75%
|
| Price: | Par
|
| Managers: | Bank of America Merrill Lynch and RBS Securities Inc.
|
| Distribution: | Private offering
|
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