Gran Colombia Eyes Raising US$300 Million From 6.875% Senior Notes Offering

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.

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.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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