trending Market Intelligence /marketintelligence/en/news-insights/trending/LjdACmFcEQIgQIb7ETEFjg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

St Barbara to buy back further US$20M of notes

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


St Barbara to buy back further US$20M of notes

Australian gold producer St Barbara Ltd. will buy back US$20 million in aggregate principal of its U.S. 144A senior secured notes, effective Jan. 20, 2017.

The notes will be repurchased at a 3.3% premium to par value, and the transaction will reduce the company's future interest expense by about A$2.4 million per annum, St Barbara said on Dec. 19.

Net payments for the repurchase are anticipated to be about US$21 million, which includes principal repayment, premium and accrued interest.

The buyback will be funded from U.S. dollar cash reserves generated from gold sales in the same currency.

Following the US$20 million buyback, St Barbara's net cash position is expected to exceed A$40 million.

Previously, the company announced offers to buy back US$33 million of notes in November, US$55 million of senior secured notes in October and US$40 million of notes in July.