Barrick Gold Corp. (ABX,ABX.TO) announced the pricing of $2.0 billion in debt securities comprised of: $1.25 billion of 3.85% notes due 2022 and $750 million of 5.25% notes due 2042. The offering is expected to close on or about April 3, 2012.
The company said the net proceeds from this offering will be used primarily to repay existing indebtedness under two revolving credit facilities, each of which was drawn upon in connection with Barrick's acquisition of Equinox Minerals Limited in 2011, with the balance of the proceeds being used to finance the development of mining projects and for general corporate purposes.
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