TORONTO (miningweekly.com) – Senior miner Goldcorp on Wednesday priced a $1.5-billion offering of senior unsecured notes, consisting of a $500-million principal amount of 2.125% notes due March 15, 2018 and $1-billion in 3.70% notes due March 15, 2023.
The New York- and Toronto-listed company said it intended to use the proceeds for repayment of its $862.5-million of convertible notes maturing August 2014, capital expenditures, capital investments or working capital.
Goldcorp expected to receive net proceeds of about $1.48-billion from the offering, after deducting underwriting fees and estimated offering expenses.
Goldcorp is building three new mines and planned to push yearly gold output up to 4.2-million ounces by 2017.
The offering was expected to close on March 20, subject to customary closing conditions.