Barrick Gold Corp. (NYSE: ABX) has announced this morning that the company will issue $2 billion in debt securities, the proceeds of which will be used:
primarily to repay existing indebtedness under two revolving credit facilities, each of which was drawn upon in connection with Barrick’s acquisition of Equinox Minerals Limited in 2011, with the balance of the proceeds being used to finance the development of mining projects and for general corporate purposes.
There are two parts to the offering: $1.25 billion of 3.85% notes due 2022; and $750 million of 5.25% notes due 2042. The offering is expected to close around April 3, 2012.
Barrick’s shares closed yesterday at $43.13 in a 52-week range of $42.20-$59.95.
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Barrick Gold Corp. (NYSE: ABX) has announced this morning that the company will issue $2 billion in debt securities, the proceeds of which will be used:
