Gran Colombia Gold Corp. (TSX: GCM) last night announced that it has priced its offering of senior unsecured notes due 2026 bearing a 6.875% coupon rate. The offering, which the company reported to be oversubscribed, is priced for a total of US$300 million.
The company relayed that the proceeds from the offering are intended for the development of its Guyana operations, prepayment of its remaining gold-linked notes, and general corporate purposes.
The offering is expected to close on August 9, 2021, subject to customary closing conditions.
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In June 2021, the gold producer acquired full control of Gold X Mining Corp. and delisted the company from the TSX Venture.
Gran Colombia Gold Corp. last traded at $4.75 on the TSX.
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