New Gold Inc. (NGD) announced the expiration of its tender offer for all outstanding 7.50 percent Senior Notes due 2027, which ended on March 13, 2025.
Approximately $288.8 million in principal, or 72.21 percent of the total $400 million outstanding, was tendered.
The company expects to accept all validly tendered notes and make payments on March 18, 2025, using proceeds from its new $400 million issuance of 6.875 percent Senior Notes due 2032.
Any remaining untendered notes may be redeemed on or around July 15, 2025, at 100 percent of the principal amount plus accrued interest, though this is not guaranteed. The transaction is managed by BofA Securities and BMO Capital Markets.
NGD is currently trading at $3.2501 or 0.6213% higher on the NYSE American.
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