Endeavour announces pricing of US$500.0 million 5-year senior notes
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has announced the pricing of US$500.0 million in senior notes due 2030 as part of its refinancing strategy. The notes will carry a 7.000% interest rate, payable semi-annually, with settlement expected around May 28, 2025 and maturity on May 28, 2030.
The proceeds, combined with cash on hand, will be used to finance the purchase of the company's outstanding US$500.0 million 5.000% senior notes due 2026 through a concurrent cash tender offer, and to pay related transaction fees. This refinancing will extend the maturity of Endeavour's debt structure, providing enhanced financial flexibility.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ha annunciato il prezzo di 500,0 milioni di dollari USA in obbligazioni senior con scadenza 2030, nell'ambito della sua strategia di rifinanziamento. Le obbligazioni avranno un tasso di interesse del 7,000%, pagabile semestralmente, con regolamento previsto intorno al 28 maggio 2025 e scadenza il 28 maggio 2030.
I proventi, uniti alla liquidità disponibile, saranno utilizzati per finanziare l'acquisto delle obbligazioni senior in circolazione da 500,0 milioni di dollari USA con tasso 5,000% in scadenza 2026 tramite un'offerta di acquisto in contanti contemporanea, e per coprire le spese correlate alla transazione. Questo rifinanziamento prolungherà la scadenza della struttura del debito di Endeavour, offrendo una maggiore flessibilità finanziaria.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ha anunciado la fijación del precio de 500,0 millones de dólares estadounidenses en bonos senior con vencimiento en 2030 como parte de su estrategia de refinanciamiento. Los bonos tendrán una tasa de interés del 7,000%, pagadera semestralmente, con liquidación prevista alrededor del 28 de mayo de 2025 y vencimiento el 28 de mayo de 2030.
Los fondos, junto con el efectivo disponible, se utilizarán para financiar la compra de los bonos senior pendientes de 500,0 millones de dólares estadounidenses al 5,000% con vencimiento en 2026 mediante una oferta pública de adquisición en efectivo simultánea, y para cubrir las comisiones relacionadas con la transacción. Este refinanciamiento extenderá el vencimiento de la estructura de deuda de Endeavour, proporcionando una mayor flexibilidad financiera.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF)는 재융자 전략의 일환으로 2030년 만기 5억 달러 규모의 선순위 채권 가격을 발표했습니다. 이 채권은 연 7.000% 이자율이 적용되며, 반기별로 이자가 지급되고, 결제는 2025년 5월 28일경에 이루어지며 만기는 2030년 5월 28일입니다.
조달된 자금과 보유 현금을 합쳐 회사는 2026년 만기 5.000% 선순위 채권 5억 달러를 동시 현금 공개 매수로 매입하고, 관련 거래 수수료를 지불하는 데 사용할 예정입니다. 이번 재융자는 Endeavour의 부채 만기를 연장하여 재무 유연성을 높일 것입니다.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) a annoncé le prix de 500,0 millions de dollars US d'obligations senior arrivant à échéance en 2030 dans le cadre de sa stratégie de refinancement. Les obligations porteront un taux d'intérêt de 7,000%, payable semestriellement, avec un règlement prévu aux alentours du 28 mai 2025 et une échéance au 28 mai 2030.
Les fonds levés, combinés à la trésorerie disponible, seront utilisés pour financer l'achat des obligations senior en circulation de 500,0 millions de dollars US au taux de 5,000% arrivant à échéance en 2026 via une offre publique d'achat en espèces simultanée, ainsi que pour couvrir les frais liés à la transaction. Ce refinancement prolongera la maturité de la structure de la dette d’Endeavour, offrant une flexibilité financière accrue.
Endeavour Mining (LSE:EDV, TSX:EDV, OTCQX:EDVMF) hat die Preisfestsetzung von 500,0 Millionen US-Dollar an Senior Notes mit Fälligkeit 2030 im Rahmen seiner Refinanzierungsstrategie bekanntgegeben. Die Anleihen tragen einen Zinssatz von 7,000%, zahlbar halbjährlich, mit einer erwarteten Abwicklung um den 28. Mai 2025 und Fälligkeit am 28. Mai 2030.
Die Erlöse werden zusammen mit vorhandenen liquiden Mitteln verwendet, um den Rückkauf der ausstehenden 500,0 Millionen US-Dollar Senior Notes mit 5,000% Verzinsung und Fälligkeit 2026 durch ein gleichzeitiges Barangebot zu finanzieren und die damit verbundenen Transaktionskosten zu begleichen. Diese Refinanzierung verlängert die Laufzeit der Schuldenstruktur von Endeavour und bietet eine verbesserte finanzielle Flexibilität.
- Extension of debt maturity profile to 2030, improving financial flexibility
- Successful refinancing of existing US$500M notes
- Maintains consistent debt level without increasing leverage
- Higher interest rate of 7.000% compared to existing 5.000% notes
- Additional transaction fees and expenses associated with the refinancing
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 PRICING OF US
5-YEAR SENIOR NOTES
London, 21 May 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce the pricing of its offering (the “Offering”) of US
Interest on the Notes will be payable semi-annually at a rate equal to
The proceeds of the Notes, together with cash on hand, will be used to (i) finance the purchase of any and all of the Company’s outstanding U.S.
The Notes will extend the maturity of the Company’s existing debt structure providing increased financial flexibility.
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).
This announcement is being distributed to, and is directed at, only persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, partnerships or high value trusts etc.) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be 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.
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 statements.
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.sedarplus.ca for further information respecting the risks affecting the Group 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 |
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FAQ
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