Endeavour Announces Offering of $500 million Senior Notes due 2030
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has announced the launch of a $500 million senior notes offering due in 2030. The company plans to use the proceeds, along with available cash, to finance the purchase of its outstanding $500 million 5.000% senior notes due 2026 through a concurrent cash tender offer. The funds will also cover fees and expenses related to these transactions.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ha annunciato il lancio di un offerta di obbligazioni senior da 500 milioni di dollari con scadenza nel 2030. La società prevede di utilizzare i proventi, insieme alla liquidità disponibile, per finanziare l'acquisto delle sue obbligazioni senior in circolazione da 500 milioni di dollari al 5,000% con scadenza nel 2026, tramite un'offerta di acquisto in contanti simultanea. I fondi copriranno inoltre le commissioni e le spese relative a queste operazioni.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ha anunciado el lanzamiento de una oferta de bonos senior por 500 millones de dólares con vencimiento en 2030. La compañía planea utilizar los ingresos, junto con el efectivo disponible, para financiar la recompra de sus bonos senior pendientes por 500 millones de dólares al 5.000% con vencimiento en 2026 mediante una oferta pública de compra en efectivo simultánea. Los fondos también cubrirán las comisiones y gastos relacionados con estas transacciones.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF)는 2030년 만기 5억 달러 규모의 선순위 채권 발행을 발표했습니다. 회사는 이 자금과 보유 현금을 함께 사용하여 2026년 만기 5.000% 선순위 채권 5억 달러를 동시 현금 공개매수로 상환할 계획입니다. 또한 이 거래와 관련된 수수료 및 비용도 자금에서 충당할 예정입니다.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) a annoncé le lancement d'une offre d'obligations senior de 500 millions de dollars arrivant à échéance en 2030. La société prévoit d'utiliser les fonds recueillis, ainsi que sa trésorerie disponible, pour financer le rachat de ses obligations senior en circulation de 500 millions de dollars à 5,000 % arrivant à échéance en 2026, via une offre publique d'achat en espèces simultanée. Les fonds couvriront également les frais et dépenses liés à ces opérations.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) hat die Emission von Senior Notes im Wert von 500 Millionen US-Dollar mit Fälligkeit im Jahr 2030 angekündigt. Das Unternehmen plant, die Erlöse zusammen mit verfügbaren Barmitteln zu verwenden, um den Rückkauf seiner ausstehenden Senior Notes über 500 Millionen US-Dollar mit 5,000% Verzinsung und Fälligkeit 2026 durch ein gleichzeitiges Barangebot zu finanzieren. Die Mittel werden auch zur Deckung von Gebühren und Ausgaben im Zusammenhang mit diesen Transaktionen verwendet.
- Refinancing existing debt with new notes suggests proactive debt management
- Extended maturity from 2026 to 2030 improves debt structure
- New debt issuance maintains significant leverage on balance sheet
- Transaction costs and fees will impact cash resources
NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
ENDEAVOUR ANNOUNCES OFFERING OF
London, 19 May 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (the “Company”, together with its subsidiaries, the “Group”) announces the launch of an offering (the “Offering”) of fixed rate senior notes due 2030 (the “Notes”).
The proceeds of the Offering are expected to be used, together with cash on hand, to (i) finance the purchase of any and all of the Company’s outstanding U.S.
ABOUT ENDEAVOUR MINING PLC
Endeavour Mining is one of the world’s top gold miners and one of the largest gold producers in West Africa, with operating assets across Senegal, Côte d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
IMPORTANT INFORMATION
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes or the guarantees thereof (the “Guarantees”), nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale would be unlawful. The Notes and the Guarantees have not been and will not be registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction. Securities may not be offered in the United States absent registration or an exemption from registration. No action has been or will be taken in any jurisdiction in relation to the Notes or the Guarantees to permit a public offering of securities. There is no assurance that any Notes offering will be completed or, if completed, as to the terms on which it is completed.
The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (“EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive 2016/97/EU (as amended, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”). No key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the Notes or the Guarantees or otherwise making them available to retail investors in the EEA has been prepared. Offering or selling the Notes or the Guarantees or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
The Notes and the Guarantees are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (the “UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No. 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No. 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the UK Prospectus Regulation. Consequently, no key information document required by Regulation (EU) No. 1286/2014 as it forms part of domestic law by virtue of the EUWA (as amended the “UK PRIIPs Regulation”) for offering or selling the Notes or the Guarantees or otherwise making them available to retail investors in the UK has been prepared, and therefore, offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MiFID II professionals / ECPs-only / No PRIIPs KID – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document has been prepared as not available to retail in the EEA.
UK MiFIR professionals / ECPs-only / No UK PRIIPs KID – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No UK PRIIPs key information document has been prepared as not available to retail in the UK.
This announcement is being distributed to, and is directed at, only persons who (i) are outside the UK; (ii) are “qualified investors” within the meaning of Article 2 of the Prospectus Regulation as it forms part of retained EU law in the UK as defined in the EUWA, (iii) have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (iv) are persons who are high net worth bodies corporate, unincorporated associations and partnerships and the trustees of high value trusts, as described in Article 49(2)(a) to (d) of the Order or (v) are persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as “Relevant Persons”). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, Relevant Persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.
In any EEA Member State this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article 2(e) of the Prospectus Regulation.
The Notes and the Guarantees have not been nor will they be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of Canadian securities laws and the Notes will be subject to “hold period” resale restrictions under applicable Canadian securities laws.
The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which they are released, published or distributed, should inform themselves about, and observe, such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This announcement contains “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to the Group’s intentions with regards to any offering of the Notes and the Guarantees. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “forecasts,” “should,” “could,” “would,” “may,” “will” and other similar expressions or, in each case, their negative or other variations or comparable terminology and similar expressions.
Forward-looking statements, while based on management’s reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statement. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to the Group’s most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
These forward-looking statements speak only as of the date of this announcement. Except as required by applicable law and regulation, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT INFORMATION
| For Investor Relations enquiries: | For Media enquiries: |
| Jack Garman | Brunswick Group LLP in London |
| Vice President of Investor Relations | Carole Cable, Partner |
| +442030112723 | +442074045959 |
| investor@endeavourmining.com | ccable@brunswickgroup.com |
Attachment
FAQ
What is the size of Endeavour Mining's (EDVMF) new senior notes offering in 2025?
What is the purpose of Endeavour Mining's 2025 notes offering?
When do Endeavour Mining's (EDVMF) new senior notes mature?
What is happening to Endeavour Mining's existing 2026 notes?
