Hecla Mining Co. (HL) Tuesday priced an offering of $500 million of its 6.875 percent senior notes due 2021. The new offering represents an increase of $100 million from the amount originally proposed.
The coupon on the notes will be 6.875 percent per year payable in cash semi-annually in arrears, and will on May 1, 2021.
The proceeds from the offering will be deposited into an escrow account until the satisfaction of certain conditions, including the consummation of the previously announced pending acquisition of Aurizon Mines Ltd.
The transaction is expected to close on or about April 12, 2013, subject to the satisfaction of various customary closing conditions.
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