An announcement from New Gold ( (TSE:NGD) ) is now available.
New Gold Inc. has announced the pricing of a $400 million offering of 6.875% Senior Notes due in 2032. The net proceeds from this offering, along with cash on hand, will be used to fund the purchase of its outstanding 7.50% senior notes due in 2027. This financial maneuver is part of a tender offer to purchase any and all of the existing notes, which is contingent upon the successful completion of the new notes offering. This strategic move is expected to optimize New Gold’s debt structure and potentially improve its financial flexibility, which could have positive implications for its stakeholders and market positioning.
More about New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The company aims to build a leading diversified intermediate gold company committed to environmental and social responsibility.
YTD Price Performance: 3.82%
Average Trading Volume: 11,254,338
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.15B
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