Osisko Gold completes US$600 million senior secured notes offering
ODV•Osisko Gold completed a private offering of US$600 million in 9.250% senior secured notes due 2031, with net proceeds of about US$578 million.
1. Use of proceeds
The company used about US$120.8 million to repay and terminate its Appian senior secured credit facility. Remaining proceeds were allocated to an interest reserve account and then a segregated disbursement account for the Cariboo Gold Project.
2. Note terms
The notes mature on October 1, 2031, pay interest semiannually beginning April 1, 2027, and had an initial purchase price of 98.25%.
