Allied Nevada Gold Corp. (ANV,ANV.TO) announced an offering of 8.75% senior unsecured notes due 2019 in an aggregate principal amount of C$400 million. In connection with the offering, the company will enter into a cross currency interest rate swap and thereby the notes will have an effective principal amount of $400.4 million and an effective interest rate of 8.375% per annum.
Allied Nevada plans to use the net proceeds from the offering of the Notes to fund the expansion of its Hycroft Mine. Closing of the offering of the Notes is expected to occur on or about May 25, 2012.
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