RE:$5 by end of week
Gran Colombia Gold partial redemption of 8.25% notes
2020-03-23 20:45 ET - Miscellaneous
The Toronto Stock Exchange reports that Gran Colombia Gold Corp. will redeem, on March 31, 2020, $19,162,500 (U.S.) principal amount of its 8.25 per cent senior secured gold-linked notes due 2024 . The record date for the redemption is March 26, 2020.
According to the TSX, 30-U.S.-cent principal amount of gold notes will be redeemed for each $1 (U.S.) principal amount outstanding at a price equal to 30 U.S. and a further sum representing the make-whole premium that will be calculated prior to the redemption date in accordance with the trust indenture dated April 30, 2018, the whole sum representing the redemption price. No accrued interest is included in the redemption price as all accrued and unpaid interest on the gold notes will be paid in the normal course on the interest payment date of March 31, 2020.
The TSX reports that the gold notes remaining will begin trading at the open on March 25, 2020, on a postredemption basis under the current stock symbol (GCM.NT.U) and current Cusip number (No. 38501D AL 9). The TSX will issue a further bulletin to confirm the redemption price at the time it is known.
For more information, see the company's news release dated Feb. 6,2 020.
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