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Aris Mining Completes $450 Million Senior Notes Offering to Fund Debt Refinancing
Posted On October 31, 2024
Tag: aris mining, british colombia, canada, colombia, gold, guyana, marmato, mining, neil woodyer, NYSE-A: ARMN, refinance, segovia, toroparu, TSX: ARIS
Aris Mining Corporation (TSX: ARIS, NYSE-A: ARMN) has announced the completion of a $450 million offering of 8.0% Senior Notes due 2029. The company intends to use the proceeds to redeem its outstanding 6.875% Senior Notes due 2026, with the redemption scheduled for November 20, 2024. Additional proceeds will be allocated toward working capital and general corporate purposes.
According to Aris Mining CEO Neil Woodyer, the note offering was well received by investors, allowing the company to increase the issuance size to $450 million, with a final rate of 8.00%, below the anticipated range of 8.25% to 8.50%. “This financing strategy not only covers our existing $300 million notes but also extends our debt maturity to October 31, 2029, aligning with ongoing expansions at both Segovia and Marmato,” Woodyer said.
The new financing is part of Aris Mining’s broader debt management strategy as it seeks to improve its capital structure amid favorable market conditions for emerging markets and the gold sector. Aris Mining seeks to continue its growth trajectory with major investments at its Segovia and Marmato mining projects,both in Colombia, aimed at bolstering production capacity.
The map of Guyana shown in this Article is misleading. There is a piece of territory in the south east, that is disputed with Suriname. it has been like that for decades since colonial times. to depict the borders like this is very misleading. please see how Google Maps, Esri Maps, Mapbox and the BBC Country profile page of Guyana show this disputed area marked.