Mr. W. John DeCooman reports
SSR MINING PRICES OFFERING OF CONVERTIBLE SENIOR NOTES
SSR Mining Inc. has priced its previously announced offering of unsecured convertible senior notes due 2039. SSR Mining will issue $200-million (U.S.) aggregate principal amount of notes (or $230-million (U.S.) aggregate principal amount if the overallotment option is exercised in full) pursuant to private placement exemptions.
SSR Mining intends to use the net proceeds of the offering to repurchase, in separate privately negotiated transactions, approximately $150-million (U.S.) of its outstanding 2.875 per cent convertible senior notes and for general corporate purposes.
The notes will bear cash interest semi-annually at a rate of 2.50 per cent per annum. The initial conversion rate for the notes will be 54.1082 common shares per $1,000 (U.S.) principal amount of notes, equivalent to an initial conversion price of approximately $18.48 (U.S.) per share.
SSR Mining will have the right to redeem the notes at its option in certain circumstances. Holders will have the right to require SSR Mining to repurchase their notes upon the occurrence of certain events
The offering is expected to close on or about March 19, 2019, subject to customary closing conditions.
About SSR Mining
Inc.
SSR Mining is a Canadian-based precious metal producer with three operations, including the Marigold gold mine in Nevada, United States, the Seabee gold operation in Saskatchewan, Canada, and the 75-per-cent-owned and operated Puna operations joint venture in Jujuy, Argentina. It also has two feasibility-stage projects and a portfolio of exploration properties in North and South America. It is committed to delivering safe production through relentless emphasis on operational excellence. It is also focused on increasing production and mineral reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.
We seek Safe Harbor.
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