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Article: Placer Dome announces plans to issue long-term debt to refinance acquisition and fund development; (all figures in US$ unless otherwise stated).
- Article from:
- PR Newswire
- Article date:
- October 7, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Placer Dome Inc. (NYSE, TSX, ASX: PDG) intends to make two separate concurrent private debenture offerings with expected proceeds of approximately $500 million. The aggregate principal amount is expected to consist of $300 million of unsecured senior debentures with a 32- year maturity, and $200 million of unsecured senior convertible debentures with a 20-year maturity. In connection with the convertible debentures, Placer Dome intends to grant the initial purchasers an option to purchase an additional 15% of convertible debentures.
The final terms of these offerings, which are expected to close on October 10, have not yet been fixed. The offerings will be private ...