17:31:26 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



SSR Mining Inc
Symbol SSRM
Shares Issued 121,124,854
Close 2019-03-18 C$ 17.05
Market Cap C$ 2,065,178,761
Recent Sedar Documents

SSR Mining completes $230-million note offering

2019-03-19 10:18 ET - News Release

Mr. John DeCooman reports

SSR MINING COMPLETES $230 MILLION OFFERING OF CONVERTIBLE SENIOR NOTES

SSR Mining Inc. has closed its previously announced offering of $230-million aggregate principal amount of 2.50 per cent unsecured convertible senior notes due 2039 (including $30-million pursuant to the exercise of the initial purchaser overallotment option). The initial conversion rate for the notes will be 54.1082 common shares per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $18.48 per share.

SSR Mining intends to use the net proceeds of the offering to repurchase, in separate privately negotiated transactions, approximately $150-million of its outstanding $265-million 2.875 per cent convertible senior notes and for general corporate purposes.

Paul Benson, president and chief executive officer, commented: "Completing this offering provides certainty to our capital structure, while lowering the interest rate of our debt. With our existing 2013 convertible notes having an effective maturity on Feb. 1, 2020, the offering enables us to immediately repurchase approximately $150-million of the 2013 convertible notes and provides the capital to redeem the outstanding balance early next year. The refinancing also maintains our conservative leverage ratio and provides a stronger capital base as we continue investing in our assets and evaluating further opportunities that will benefit our shareholders. We believe cash remains a strategic asset and provides a competitive advantage in market conditions that remain challenging for equity capital."

About SSR Mining Inc.

SSR Mining is a Canadian-based precious metals 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. The company also has two feasibility-stage projects and a portfolio of exploration properties in North America and South America. The company is committed to delivering safe production through relentless emphasis on operational excellence. SSR Mining is also focused on growing 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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