Gran Colombia prices US$300 Million notes offering
Gran Colombia Gold Corp. (TSX-GCM; OTCQX-TPRFF) announced today that it has successfully priced an oversubscribed offering of US$300 million in senior unsecured notes due 2026 at a coupon rate of 6.875% with closing expected to occur on or about August 9, 2021.
The proceeds from the 2026 Notes will be used to fund the development of the Company’s Guyana operations, to prepay the remaining Gold-Linked Notes, and for general corporate purposes. The 2026 Notes have been assigned a rating of B+ by Fitch Ratings and a rating of B+ by S&P Global Ratings.
The 2026 Notes are being offered exclusively to qualified institutional buyers in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933, to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Act and pursuant to certain prospectus exemptions in Canada.