- Endeavour (EDV) will offer C$0.5 billion in fixed-rate senior notes due in 2026
- The company has also entered into a $0.5 billion revolving credit facility, which may increase up to an aggregate $650 million
- It will use proceeds from the notes offering to repay its existing bridge facility and revolving credit facility
- Endeavour is one of the world’s senior gold producers and the largest in West Africa
- Endeavour (EDV) is down by 0.35 per cent and is currently trading at $28.41 per share
Endeavour (EDV) will offer C$0.5 billion in fixed-rate senior notes due in 2026.
It will use proceeds from the notes offering to:
- Repay all amounts outstanding under its $370 million bridge term loan facility, which was used to retire higher-cost debt related to its acquisition of Teranga Gold Corporation
- Repay the $130 million drawn under its existing revolving credit facility
- Pay fees and expenses in connection with the notes offering
The company has also entered into a $0.5 billion revolving credit facility with a four-year tenor, which may increase up to an aggregate $650 million.
The facility grants borrowing availability in U.S. dollars for general corporate purposes and replaces the company’s existing bridge facility and revolving credit facility.
The new revolving credit facility is conditioned upon the closing of the notes offering.
Endeavour is one of the world’s senior gold producers and the largest in West Africa.
Endeavour (EDV) is down by 0.35 per cent and is currently trading at $28.41 per share as of 10:01 am ET.
