Iamgold Corp. (IAG: Quote,IMG.TO: Quote) announced that it upsized and priced an offering of US$650 million aggregate principal amount of senior unsecured notes due 2020 in a private placement offering to eligible investors.
The size of the offering was increased from the previously announced offering of US$500 million aggregate principal amount of Notes to US$650 million aggregate principal amount of Notes. The Notes bear interest at 6.75% per annum and are being issued at a price of 100% of their face amount, providing the company with gross proceeds of US$650 million.
The offering is expected to close on or about September 21, 2012, subject to customary closing conditions.
The company said it intends to use the net proceeds of the Notes for general corporate purposes, including the funding of capital expenditures and exploration.
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by RTT Staff Writer
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