Tue, Mar 3, 2015, 10:30 AM EST - U.S. Markets close in 5 hrs 30 mins

Recent

% | $
Quotes you view appear here for quick access.

Thompson Creek Metals Company Inc. Message Board

  • speedviper007 speedviper007 Nov 16, 2012 4:17 PM Flag

    Eldorado Gold strikes out in U.S. high yield market, Thompson Creek scoops up US$350M

    It’s not just equity investors which are passing on some marketed offerings. On Friday, Vancouver-based Eldorado Gold Corp., announced “that due to current market conditions” it has decided not to proceed with its planned offering of US$500-million senior unsecured notes.

    That deal, on which JP Morgan, Citigroup, HSBC and BofA Merrill Lynch were joint lead managers, was announced last Monday. “We had hoped to opportunistically access the debt capital markets to augment our already strong balance sheet, but we will only do so in a disciplined manner,” it said, adding that the proposed offering “would not be in the best interest of shareholders under the terms currently available.”

    Eldorado defines itself as “a gold producing, exploration and development company actively growing businesses in Turkey, China, Greece, Brazil and Romania.”

    Eldorado’s decision came on the same day that Thompson Creek Metals Company Inc. priced its high yield financing — the second time this year it has sold non investment grade securities in the U.S.

    Thompson Creek, which has two large operating molybdenum mines as well as a large copper-gold mine under construction, priced a US$350-million five-year offering that came with a 9.75% coupon and a 10% yield to maturity. At 10% the yield is more than 900 basis points above comparable U.S. government bonds. Earlier this year it raised US$200 million for seven years at a coupon of 12.50%.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
TC
1.59+0.02(+1.27%)10:30 AMEST

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.