Goldcorp in $750m Note Offering

1 June 2009 (Last Updated June 1st, 2009 18:30)

Canada’s Goldcorp is planning a private offering of convertible senior notes to raise $750m. Goldcorp plans to use the proceeds from the sale to repay debt under its revolving term credit facility, with the balance to be used for general corporate purposes, including capital expenditure

Canada’s Goldcorp is planning a private offering of convertible senior notes to raise $750m.

Goldcorp plans to use the proceeds from the sale to repay debt under its revolving term credit facility, with the balance to be used for general corporate purposes, including capital expenditures.

Initial purchasers will be granted a 30-day option to purchase up to another $112.5m of notes to cover any over-allotments, the company said.

The terms of the offer have not been decided but the company plans to quote a price at a premium to the market price of its common shares.

By staff writer