trending Market Intelligence /marketintelligence/en/news-insights/trending/w9VQGeg29P7WnNI8IcLduw2 content esgSubNav
In This List

Silver Wheaton ups recent bought-deal financing to US$550M


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Energy Evolution | Looking ahead to the energy transition in 2023


Path to Net-Zero: How are mining companies tracking?


The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?

Silver Wheaton ups recent bought-deal financing to US$550M

Due to strong demand, SilverWheaton Corp. on March 31 increased the size of its underwritten public offeringand now plans to raise about US$550 million.

On a bought-deal basis, the company will now offer 33,135,000common shares at US$16.60 each. The underwriters will have an option to purchaseup to 4,970,250 additional common shares at the same price and terms. If the underwritersfully exercise the option, total proceeds will rise to about US$632.5 million.

Net proceeds will be used to repay a portion of the debt thatwas drawn on the company's US$2 billion revolving credit facility in November 2015for the US$900 million acquisition of the silverstream on the Antaminamine in Peru.

At the end of 2015, the company had about US$103 million in cashon hand and about US$1.47 billion outstanding under the revolving facility.

The offering is scheduled to close by April 7.