VANCOUVER, British Columbia, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado”, the “Company” or “We”) is pleased to announce that the Company intends to offer up to US$500 million aggregate principal amount of senior notes due 2029 (the “Notes”), subject to market and other conditions. The interest rate and other terms of the Notes will be determined based on prevailing market conditions.
Eldorado intends to use the net proceeds from the sale of the Notes to redeem its outstanding US$234 million 9.500% Senior Secured Second Lien Notes due June 2024, to repay all amounts outstanding under its existing term loan facility, to repay all amounts outstanding under its existing revolving credit facility, to pay fees and expenses in connection with the foregoing, and for general corporate purposes. Eldorado has obtained the requisite consent of its lenders for the sale of the Notes under the Third Amended and Restated Credit Agreement dated as of May 13, 2019 among the Company, as borrower, and HSBC Bank Canada, as administrative agent, among others.
The Notes have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state and may not be offered or sold absent registration under the Securities Act or an applicable exemption from the registration requirements thereof. The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to certain “non-U.S. persons” outside the United States in reliance on Regulation S under the Securities Act and in each case pursuant to available prospectus exemptions from securities laws of British Columbia. The Notes will be offered and sold outside of the United States (including in Canada) on a private placement basis pursuant to certain exemptions from applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).