Bullish indicating open at $55-$60, IPO prices at $37
LONDON - Endeavour Mining plc (LSE:EDV, (TSX:EDV), OTCQX:EDVMF), a significant player in the gold mining sector, has successfully completed its offering of $500 million 7.000% senior notes due in 2030. This strategic financial move is part of the company’s broader refinancing efforts.
The proceeds from the offering, combined with available cash, are earmarked to finance the purchase of the company’s existing 5.000% senior notes due in 2026 that were tendered in a concurrent cash tender offer. Remaining funds will cover related fees and expenses.
According to Endeavour, $464,278,000 in aggregate principal amount of the existing notes were tendered by the expiration deadline. The company expects to redeem any remaining notes not tendered at the same purchase price paid to the tendering note holders. This action will follow the completion of the tender offer but does not constitute a redemption notice under the indenture.
The tender offer, detailed in the offer to purchase dated May 19, 2025, concluded at 5:00 p.m. New York City time on May 28, 2025. Holders of notes accepted in the tender offer will receive accrued and unpaid interest up to but not including the settlement date, which is anticipated to be May 30, 2025.
Endeavour Mining emphasizes that the newly issued senior notes have not been registered under the US Securities Act of 1933 or any state securities laws and were offered only to qualified institutional buyers and non-U.S. persons outside the United States.
The company, one of the largest gold producers in West Africa, operates assets across Senegal, Côte d’Ivoire, and Burkina Faso. Endeavour is committed to responsible mining practices and aims to create sustainable value for its employees, stakeholders, and the communities where it operates.
This financial announcement is based on a press release statement and does not include any speculative content or assessment of the significance or potential impact of Endeavour’s refinancing strategy.
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