This Is an Excellent NGD, NR Today .... Company News Alert
New Gold Announces Closing of $300 Million Senior Notes Offering (cnw)
(All figures are in US dollars unless otherwise indicated)
VANCOUVER, April 5, 2012/CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces the closing of its private offering of $300 millionaggregate principal amount of 7.0% Senior Notes due 2020 (the "Notes"). New Gold intends to use the net proceeds of the Notes to fund the redemption of its 10.0% Senior Secured Notes due 2017 (the "Senior Secured Notes") and for general corporate purposes. New Gold today issued an irrevocable notice of redemption for the Senior Secured Notes.
"We are very pleased to have completed this financing as it lowers the interest rate, extends the term and enhances our flexibility when compared to the Senior Secured Notes," stated Brian Penny, Chief Financial Officer. "After the redemption of these notes and related costs, we anticipate having a further {C}$90 million{C} of cash on our balance sheet."
The redemption date for the Senior Secured Notes will be May 7, 2012.
" Best Regards As Always - GoldBuyer "
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