Barrick Gold Corp. (ABX, ABX.TO) and its wholly-owned subsidiary, Barrick North America Finance LLC), on Monday announced the pricing of US$3 billion in debt securities comprised of: US$650 million of 2.50% notes due 2018 and US$1.5 billion of 4.10% notes due 2023 of Barrick as well as US$850 million of 5.75% notes due 2043 of Barrick North America Finance.
The offering is expected to close on or about May 2.
The net proceeds from the offering will be used to repay about $2 billion of borrowings under Barrick's revolving credit facility maturing in January 2018, which amount was originally borrowed for general corporate purposes and to repay existing indebtedness and for general corporate purposes, including, but not limited to, the repayment, in whole or in part, of the $500 million aggregate principal amount of the 6.125% Notes due 2013 issued by Barrick's wholly-owned subsidiary Barrick Gold Financeco LLC.
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